Truist Financial Issues Positive Forecast for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its target price raised by Truist Financial from $230.00 to $248.00 in a report issued on Thursday morning,Benzinga reports. Truist Financial currently has a hold rating on the semiconductor company’s stock.

Other research analysts also recently issued research reports about the company. Piper Sandler lowered their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday. Benchmark boosted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.19.

Analog Devices Stock Up 0.9 %

Shares of Analog Devices stock opened at $243.82 on Thursday. Analog Devices has a twelve month low of $182.57 and a twelve month high of $247.10. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $215.06 and its 200 day moving average is $219.97. The company has a market cap of $120.96 billion, a price-to-earnings ratio of 74.11, a price-to-earnings-growth ratio of 2.53 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. Research analysts anticipate that Analog Devices will post 7.09 EPS for the current year.

Analog Devices declared that its board has authorized a stock buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new stake in Analog Devices in the third quarter worth $28,000. Mainstream Capital Management LLC bought a new stake in Analog Devices in the fourth quarter worth $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices during the fourth quarter valued at $30,000. Finally, Cassady Schiller Wealth Management LLC lifted its position in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

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.