Analog Devices (NASDAQ:ADI) Given New $230.00 Price Target at Truist Financial

Analog Devices (NASDAQ:ADI) had its price objective increased by Truist Financial from $216.00 to $230.00 in a research report sent to investors on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on ADI. TD Cowen lowered their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company began coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Morgan Stanley reduced their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Piper Sandler dropped their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $249.48.

Analog Devices Stock Down 3.7 %

Shares of Analog Devices stock opened at $212.37 on Friday. The company has a fifty day moving average price of $216.48 and a 200 day moving average price of $222.97. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices has a twelve month low of $182.57 and a twelve month high of $244.14. The stock has a market cap of $105.40 billion, a price-to-earnings ratio of 64.55, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.01 earnings per share. Equities research analysts forecast that Analog Devices will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Analog Devices

Several hedge funds have recently modified their holdings of ADI. Charles Schwab Investment Management Inc. boosted its stake in Analog Devices by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after buying an additional 39,186 shares in the last quarter. Swiss National Bank boosted its position in shares of Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after purchasing an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after purchasing an additional 7,386 shares during the last quarter. Summit Global Investments bought a new stake in shares of Analog Devices in the 3rd quarter worth approximately $867,000. Finally, Versor Investments LP acquired a new stake in Analog Devices during the third quarter valued at approximately $952,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.