Analog Devices (NASDAQ:ADI) Stock Price Expected to Rise, UBS Group Analyst Says

Analog Devices (NASDAQ:ADI - Free Report) had its target price raised by UBS Group from $275.00 to $300.00 in a research report report published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the semiconductor company's stock.

Several other brokerages have also issued reports on ADI. Morgan Stanley raised their target price on Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday. Piper Sandler lowered their target price on Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research report on Wednesday, November 27th. Benchmark raised their target price on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday. Barclays lowered their target price on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus price target of $255.19.

Analog Devices Price Performance

Shares of ADI stock traded down $4.91 during trading hours on Thursday, reaching $238.91. The company's stock had a trading volume of 6,176,402 shares, compared to its average volume of 3,812,068. 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 has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The company has a market capitalization of $118.52 billion, a price-to-earnings ratio of 76.09, a PEG ratio of 2.76 and a beta of 1.04. The firm's 50 day simple moving average is $215.50 and its 200-day simple moving average is $220.24.

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

Analog Devices declared that its board has authorized a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.

Analog Devices Increases Dividend

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

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 directly owns 21,983 shares of the company's stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

Institutional Trading of Analog Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Analog Devices by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock worth $10,432,961,000 after purchasing an additional 413,084 shares in the last quarter. State Street Corp increased its holdings in Analog Devices by 0.5% during the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company's stock worth $5,195,302,000 after purchasing an additional 106,664 shares in the last quarter. Geode Capital Management LLC increased its holdings in Analog Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock worth $2,248,971,000 after purchasing an additional 247,737 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Analog Devices in the fourth quarter valued at approximately $1,755,958,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Company Profile

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.