Today, Analog Devices Inc. (ADI) Given New $70.00 Price Target at Deutsche Bank AG

Today, Analog Devices Inc. (ADI) Given New $70.00 Price Target at Deutsche Bank AG

Analog Devices Inc. (NASDAQ:ADI) had its price objective upped by Deutsche Bank AG from $65.00 to $70.00 in a research note published on Wednesday morning. They currently have a hold rating on the stock.

ADI has been the topic of a number of other reports. Evercore ISI raised Analog Devices from a hold rating to a buy rating and set a $80.00 target price on the stock in a research report on Wednesday, July 27th. B. Riley reaffirmed a buy rating and set a $73.00 target price on shares of Analog Devices in a research report on Wednesday, July 27th. Stifel Nicolaus upped their price target on Analog Devices from $68.00 to $78.00 and gave the company a buy rating in a research report on Wednesday, July 27th. Drexel Hamilton upped their price target on Analog Devices from $62.00 to $90.00 and gave the company a buy rating in a research report on Wednesday, July 27th. Finally, SunTrust Banks Inc. set a $80.00 price target on Analog Devices and gave the company a buy rating in a research report on Wednesday, July 27th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Analog Devices currently has a consensus rating of Buy and a consensus price target of $73.97.

Analog Devices (NASDAQ:ADI) opened at 74.16 on Wednesday. The stock has a 50 day moving average price of $65.32 and a 200 day moving average price of $61.66. Analog Devices has a 1-year low of $47.24 and a 1-year high of $74.87. The firm has a market capitalization of $22.80 billion, a price-to-earnings ratio of 35.03 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, topping the Zacks’ 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 the consensus estimate of $941.92 million. During the same quarter in the previous year, the business earned $1.03 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts predict that Analog Devices will post $3.40 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Friday, December 2nd will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 30th. This represents a $1.68 dividend on an annualized basis and a yield of 2.26%. Analog Devices’s dividend payout ratio (DPR) is presently 60.87%.

In other Analog Devices news, SVP Rick D. Hess sold 6,000 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $62.63, for a total value of $375,780.00. Following the transaction, the senior vice president now directly owns 30,495 shares in the company, valued at approximately $1,909,901.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Hodgson sold 7,500 shares of the stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total value of $483,150.00. Following the completion of the transaction, the director now owns 18,485 shares in the company, valued at $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 hedge funds and other institutional investors have recently made changes to their positions in the stock. Evercore Wealth Management LLC raised its position in shares of Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the company’s stock worth $100,000 after buying an additional 123 shares during the last quarter. Peddock Capital Advisors LLC purchased a new position in shares of Analog Devices during the third quarter worth approximately $101,000. NN Investment Partners Holdings N.V. raised its position in shares of 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 worth $118,000 after buying an additional 300 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Analog Devices by 94.4% in the third quarter. Penserra Capital Management LLC now owns 1,932 shares of the company’s stock worth $123,000 after buying an additional 938 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Analog Devices by 18.9% in the second quarter. Quadrant Capital Group LLC now owns 2,421 shares of the company’s stock worth $131,000 after buying an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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