Analog Devices Inc. (NASDAQ:ADI)‘s stock had its “buy” rating restated by equities researchers at B. Riley in a research note issued on Monday. They presently have a $87.00 price objective on the stock. B. Riley’s price target would indicate a potential upside of 17.25% from the stock’s previous close.
ADI has been the subject of several other research reports. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Wednesday, October 5th. Bank of America Corp. raised Analog Devices from a “neutral” rating to a “buy” rating and raised their price target for the stock from $72.89 to $85.00 in a report on Wednesday, November 23rd. KeyCorp raised their price target on Analog Devices from $77.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, November 23rd. Wells Fargo & Co. reissued a “buy” rating on shares of Analog Devices in a report on Thursday, August 18th. Finally, Deutsche Bank AG raised their price target on Analog Devices from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, November 23rd. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Analog Devices presently has a consensus rating of “Buy” and an average target price of $73.97.
Analog Devices (NASDAQ:ADI) traded down 0.05% during midday trading on Monday, hitting $74.16. 3,126,685 shares of the stock traded hands. The company has a 50-day moving average of $65.32 and a 200-day moving average of $61.66. Analog Devices has a 12 month low of $47.24 and a 12 month high of $74.87. The stock has a market cap of $22.80 billion, a PE ratio of 35.03 and a beta of 1.18.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.16. Analog Devices had a return on equity of 19.31% and a net margin of 25.18%. The company had revenue of $1 million for the quarter, compared to analyst estimates of $941.92 million. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Analog Devices will post $3.40 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Friday, December 2nd will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.26%. The ex-dividend date is Wednesday, November 30th. Analog Devices’s payout ratio is 60.87%.
In other Analog Devices news, SVP Rick D. Hess sold 6,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $62.63, for a total transaction of $375,780.00. Following the sale, the senior vice president now owns 30,495 shares in the company, valued at approximately $1,909,901.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John C. Hodgson sold 7,500 shares of the company’s 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. Corporate insiders own 0.90% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Ballentine Partners LLC increased its stake in shares of Analog Devices by 0.3% in the fourth quarter. Ballentine Partners LLC now owns 7,347 shares of the company’s stock valued at $406,000 after buying an additional 20 shares during the period. Tdam USA Inc. increased its stake in shares of Analog Devices by 0.3% in the second quarter. Tdam USA Inc. now owns 9,028 shares of the company’s stock valued at $511,000 after buying an additional 23 shares during the period. Cue Financial Group Inc. increased its stake in shares of Analog Devices by 0.7% in the first quarter. Cue Financial Group Inc. now owns 7,275 shares of the company’s stock valued at $431,000 after buying an additional 50 shares during the period. Creative Planning increased its stake in shares of Analog Devices by 1.2% in the fourth quarter. Creative Planning now owns 5,168 shares of the company’s stock valued at $286,000 after buying an additional 59 shares during the period. Finally, World Asset Management Inc increased its stake in shares of Analog Devices by 0.3% in the second quarter. World Asset Management Inc now owns 30,251 shares of the company’s stock valued at $1,713,000 after buying an additional 77 shares during the period. Institutional investors own 87.96% of the company’s stock.
About Analog Devices