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

Today, Analog Devices Inc. (ADI) Earns Outperform Rating from RBC Capital Markets

Analog Devices Inc. (NASDAQ:ADI)‘s stock had its “outperform” rating reaffirmed by stock analysts at RBC Capital Markets in a note issued to investors on Friday. They presently have a $75.00 price target on the stock. RBC Capital Markets’ price objective indicates a potential upside of 1.92% from the company’s current price.

A number of other brokerages also recently issued reports on ADI. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, October 5th. B. Riley reiterated a “buy” rating and set a $80.00 price target on shares of Analog Devices in a research report on Tuesday, November 15th. Bank of America Corp. upgraded Analog Devices from a “neutral” rating to a “buy” rating and increased their price target for the stock from $72.89 to $85.00 in a research report on Wednesday. KeyCorp increased their price target on Analog Devices from $77.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Analog Devices in a research report on Thursday, August 18th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Analog Devices currently has a consensus rating of “Buy” and an average target price of $73.97.

Analog Devices (NASDAQ:ADI) traded up 0.49% during mid-day trading on Friday, reaching $73.95. The company’s stock had a trading volume of 907,391 shares. The company has a market cap of $22.74 billion, a PE ratio of 34.93 and a beta of 1.18. The firm’s 50 day moving average is $64.77 and its 200-day moving average is $61.30. Analog Devices has a 12-month low of $47.24 and a 12-month high of $74.87.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The business had revenue of $1 million for the quarter, compared to analyst estimates of $941.92 million. Analog Devices had a return on equity of 19.51% and a net margin of 25.18%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 earnings per share. Equities analysts anticipate that Analog Devices will post $3.34 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Wednesday, November 30th. Analog Devices’s dividend payout ratio (DPR) is 60.87%.

In other news, SVP Peter Real sold 6,500 shares of Analog Devices stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $64.14, for a total transaction of $416,910.00. Following the sale, the senior vice president now owns 13,786 shares in the company, valued at $884,234.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Hodgson sold 7,500 shares of Analog Devices stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $64.42, for a total value of $483,150.00. Following the sale, the director now owns 18,485 shares in the company, valued at approximately $1,190,803.70. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Hall Laurie J Trustee boosted its position in shares of Analog Devices by 26.0% in the second quarter. Hall Laurie J Trustee now owns 15,275 shares of the company’s stock valued at $890,000 after buying an additional 3,150 shares during the period. Creative Planning boosted its position in shares of Analog Devices by 31.6% in the second quarter. Creative Planning now owns 6,953 shares of the company’s stock valued at $394,000 after buying an additional 1,668 shares during the period. Bank of Stockton boosted its position in shares of Analog Devices by 1.4% in the second quarter. Bank of Stockton now owns 16,714 shares of the company’s stock valued at $947,000 after buying an additional 225 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in shares of Analog Devices by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 263,035 shares of the company’s stock valued at $14,899,000 after buying an additional 968 shares during the period. Finally, Exxonmobil Investment Management Inc. TX boosted its position in shares of Analog Devices by 5.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 79,558 shares of the company’s stock valued at $4,506,000 after buying an additional 4,076 shares during the period. Institutional investors and hedge funds own 86.33% of the company’s stock.

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