Analog Devices (NASDAQ:ADI) Stock Price Expected to Rise, Truist Financial Analyst Says

Analog Devices (NASDAQ:ADI - Free Report) had its price target increased by Truist Financial from $230.00 to $248.00 in a research report released on Thursday morning,Benzinga reports. They currently have a hold rating on the semiconductor company's stock.

Several other analysts have also recently issued reports on ADI. Wells Fargo & Company boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday. Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. Barclays reduced their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Benchmark lifted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a report on Thursday. Finally, Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and an average target price of $255.19.

Analog Devices Trading Down 2.0 %

Shares of NASDAQ ADI traded down $4.91 during trading on Thursday, hitting $238.91. 6,176,402 shares of the company traded hands, compared to its average volume of 3,812,068. Analog Devices has a 1 year low of $182.57 and a 1 year high of $247.10. The company has a 50-day moving average price of $215.50 and a 200-day moving average price of $220.24. The firm has a market capitalization of $118.52 billion, a P/E ratio of 76.09, a P/E/G ratio of 2.76 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the previous year, the company earned $1.73 EPS. The business's quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Analog Devices will post 7.11 EPS for the current year.

Analog Devices announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is currently 126.11%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company's stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors have recently modified their holdings of ADI. Charles Schwab Investment Management Inc. grew its position in Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock worth $623,399,000 after purchasing an additional 39,186 shares during the last quarter. Swiss National Bank grew its position in Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company's stock worth $339,012,000 after purchasing an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock worth $5,264,000 after purchasing an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp bought a new position in Analog Devices in the 4th quarter worth about $460,000. Finally, Summit Global Investments bought a new position in Analog Devices in the 3rd quarter worth about $867,000. Institutional investors own 86.81% of the company's stock.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.