Today, Robert W. Baird Raises Analog Devices Inc. (ADI) Price Target to $77.00

Today, Robert W. Baird Raises Analog Devices Inc. (ADI) Price Target to $77.00

Analog Devices Inc. (NASDAQ:ADI) had its price target hoisted by Robert W. Baird from $70.00 to $77.00 in a report published on Wednesday morning. The firm currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $58.00 to $70.00 and gave the company a neutral rating in a research report on Wednesday, July 27th. Wells Fargo & Co. reissued a buy rating on shares of Analog Devices in a research report on Thursday, August 18th. Morgan Stanley reissued a buy rating and issued a $78.00 price target on shares of Analog Devices in a research report on Thursday, August 18th. Pacific Crest reissued a buy rating on shares of Analog Devices in a research report on Sunday, September 11th. Finally, Zacks Investment Research raised shares of Analog Devices from a hold rating to a buy rating and set a $72.00 price target for the company in a research report on Wednesday, October 5th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $73.97.

Analog Devices (NASDAQ:ADI) opened at 74.16 on Wednesday. The stock 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 firm 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 released its quarterly earnings results on Tuesday, November 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.16. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The firm earned $1 million during the quarter, compared to analyst estimates of $941.92 million. During the same quarter last year, the business earned $1.03 EPS. The company’s 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 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 given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, November 30th. Analog Devices’s dividend payout ratio (DPR) is 60.87%.

In other Analog Devices news, SVP Peter Real sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $64.14, for a total value of $416,910.00. Following the completion of the sale, the senior vice president now owns 13,786 shares of the company’s stock, valued at $884,234.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rick D. Hess sold 6,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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.

A number of hedge funds have recently modified their holdings of the company. Salem Investment Counselors Inc. purchased a new stake in shares of Analog Devices during the third quarter valued at about $7,895,000. Peddock Capital Advisors LLC purchased a new stake in shares of Analog Devices during the third quarter valued at about $101,000. Evercore Wealth Management LLC raised its stake 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 valued at $100,000 after buying an additional 123 shares in the last quarter. Penserra Capital Management LLC raised its stake 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 valued at $123,000 after buying an additional 938 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake 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 valued at $118,000 after buying an additional 300 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Analog Devices Company Profile

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