Drexel Hamilton Boosts Analog Devices, Inc. (ADI) Price Target to $93.00
Analog Devices, Inc. (NASDAQ:ADI) had its price target raised by research analysts at Drexel Hamilton to $93.00 in a research report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Drexel Hamilton’s price objective indicates a potential upside of 12.75% from the company’s current price.
ADI has been the topic of a number of other research reports. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday, October 19th. assumed coverage on Analog Devices in a research report on Wednesday, October 19th. They set an “outperform” rating and a $72.00 price objective on the stock. B. Riley reaffirmed a “buy” rating and set a $80.00 price objective on shares of Analog Devices in a research report on Thursday, October 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of Analog Devices in a research report on Wednesday, November 16th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price objective on shares of Analog Devices in a research report on Monday, November 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $78.85.
Shares of Analog Devices (NASDAQ:ADI) traded up 0.62% during mid-day trading on Thursday, reaching $82.48. The company’s stock had a trading volume of 2,933,246 shares. The company’s 50-day moving average is $74.65 and its 200-day moving average is $67.99. Analog Devices has a 52 week low of $50.10 and a 52 week high of $82.57. The stock has a market capitalization of $25.42 billion, a price-to-earnings ratio of 29.88 and a beta of 1.19.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 15th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. Analog Devices had a return on equity of 19.31% and a net margin of 25.18%. The company had revenue of $984 million for the quarter, compared to analysts’ expectations of $871.58 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The firm’s revenue was up 27.9% compared to the same quarter last year. Equities analysts predict that Analog Devices will post $3.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Friday, February 24th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.18%. The ex-dividend date is Wednesday, February 22nd. This is an increase from Analog Devices’s previous quarterly dividend of $0.42. Analog Devices’s dividend payout ratio is currently 60.87%.
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In other news, Director John C. Hodgson sold 5,000 shares of the stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $73.95, for a total transaction of $369,750.00. Following the completion of the sale, the director now owns 15,985 shares in the company, valued at $1,182,090.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Eileen Wynne sold 2,770 shares of the stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $74.16, for a total transaction of $205,423.20. Following the sale, the vice president now owns 2,165 shares of the company’s stock, valued at approximately $160,556.40. The disclosure for this sale can be found here. Insiders sold 72,900 shares of company stock valued at $5,370,974 in the last 90 days. 1.10% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Sunbelt Securities Inc. increased its stake in shares of Analog Devices by 0.3% in the fourth quarter. Sunbelt Securities Inc. now owns 3,591 shares of the company’s stock valued at $261,000 after buying an additional 10 shares during the period. Asset Management Group Inc. increased its stake in shares of Analog Devices by 0.6% in the fourth quarter. Asset Management Group Inc. now owns 3,299 shares of the company’s stock valued at $240,000 after buying an additional 19 shares during the period. Wetherby Asset Management Inc. increased its stake in shares of Analog Devices by 1.4% in the fourth quarter. Wetherby Asset Management Inc. now owns 5,357 shares of the company’s stock valued at $389,000 after buying an additional 74 shares during the period. Evercore Wealth Management LLC increased 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 during the period. Finally, Blue Chip Partners Inc. increased its stake in shares of Analog Devices by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 22,348 shares of the company’s stock valued at $1,266,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 90.38% of the company’s stock.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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