Todays Report: Today, Analog Devices Inc. (ADI) Earns Buy Rating from BMO Capital Markets

Today, Analog Devices Inc. (ADI) Earns Buy Rating from BMO Capital Markets

BMO Capital Markets restated their buy rating on shares of Analog Devices Inc. (NASDAQ:ADI) in a research report report published on Monday. BMO Capital Markets currently has a $85.00 price objective on the stock.

Several other equities research analysts have also recently commented on ADI. B. Riley reaffirmed a buy rating and issued a $73.00 price objective on shares of Analog Devices in a research report on Wednesday, July 27th. Evercore ISI raised shares of Analog Devices from a hold rating to a buy rating and set a $80.00 price objective on the stock in a research report on Wednesday, July 27th. Citigroup Inc. cut shares of Analog Devices from a buy rating to a neutral rating and boosted their price target for the stock from $60.00 to $68.00 in a research report on Wednesday, July 27th. They noted that the move was a valuation call. Morgan Stanley raised shares of Analog Devices from an equal weight rating to an overweight rating and boosted their price target for the stock from $56.00 to $78.00 in a research report on Wednesday, July 27th. Finally, Royal Bank Of Canada boosted their price target on shares of Analog Devices from $63.00 to $75.00 and gave the stock an outperform rating in a research report on Wednesday, July 27th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $73.97.

Shares of Analog Devices (NASDAQ:ADI) opened at 73.59 on Monday. Analog Devices has a 52-week low of $47.24 and a 52-week high of $74.87. The company’s 50-day moving average price is $64.77 and its 200-day moving average price is $61.30. The firm has a market capitalization of $22.63 billion, a P/E ratio of 34.76 and a beta of 1.18.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.89 by $0.16. The business had revenue of $1 million for the quarter, compared to analysts’ expectations of $941.92 million. Analog Devices had a net margin of 25.18% and a return on equity of 19.51%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. On average, equities research analysts expect that Analog Devices will post $3.34 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Friday, December 2nd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Wednesday, November 30th. Analog Devices’s payout ratio is 60.87%.

In other news, Director Ray Stata sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $63.20, for a total transaction of $1,580,000.00. Following the completion of the transaction, the director now owns 257,631 shares of the company’s stock, valued at $16,282,279.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rick D. Hess sold 6,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $62.63, for a total transaction of $375,780.00. Following the transaction, the senior vice president now directly owns 30,495 shares of the company’s stock, valued at approximately $1,909,901.85. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Evercore Wealth Management LLC increased its position in Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock valued at $100,000 after buying an additional 123 shares during the last quarter. Peddock Capital Advisors LLC acquired a new position in Analog Devices during the third quarter valued at about $101,000. NN Investment Partners Holdings N.V. increased its position in Analog Devices by 16.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,079 shares of the company’s stock valued at $118,000 after buying an additional 300 shares during the last quarter. Penserra Capital Management LLC increased its position in Analog Devices by 94.4% in the third quarter. Penserra Capital Management LLC now owns 1,932 shares of the company’s stock valued at $123,000 after buying an additional 938 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Analog Devices by 18.9% in the second quarter. Quadrant Capital Group LLC now owns 2,421 shares of the company’s stock valued at $131,000 after buying an additional 384 shares during the last quarter. 86.33% of the stock is owned by hedge funds and other institutional investors.

About Analog Devices

Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.

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