Analog Devices’ (ADI) Buy Rating Reaffirmed at KeyCorp
KeyCorp reissued their buy rating on shares of Analog Devices, Inc. (NASDAQ:ADI) in a research report report published on Friday. The firm currently has a $107.00 price target on the semiconductor company’s stock. KeyCorp also issued estimates for Analog Devices’ Q1 2018 earnings at $1.28 EPS, Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $1.37 EPS, Q4 2018 earnings at $1.37 EPS and Q1 2019 earnings at $1.30 EPS.
ADI has been the subject of several other research reports. BidaskClub upgraded Analog Devices from a sell rating to a hold rating in a report on Wednesday, August 16th. Drexel Hamilton reiterated a buy rating and issued a $105.00 price objective on shares of Analog Devices in a report on Wednesday, August 30th. Jefferies Group LLC reiterated a buy rating and issued a $100.00 price objective on shares of Analog Devices in a report on Thursday, October 19th. Citigroup Inc. reiterated a neutral rating and issued a $88.00 price objective (down previously from $91.00) on shares of Analog Devices in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded Analog Devices from a hold rating to a buy rating and set a $98.00 price objective for the company in a report on Tuesday, October 10th. Eleven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $96.04.
Shares of Analog Devices (ADI) opened at $89.15 on Friday. Analog Devices has a fifty-two week low of $68.42 and a fifty-two week high of $93.99. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.52. The firm has a market capitalization of $32,679.56, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 1.67 and a beta of 1.32.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.09. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business posted $1.05 EPS. The business’s revenue was up 53.4% on a year-over-year basis. sell-side analysts forecast that Analog Devices will post 5.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, November 30th. Analog Devices’s payout ratio is 86.96%.
In other Analog Devices news, SVP Peter Real sold 4,505 shares of Analog Devices stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $89.43, for a total value of $402,882.15. Following the completion of the sale, the senior vice president now owns 13,531 shares of the company’s stock, valued at approximately $1,210,077.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Champy sold 12,500 shares of Analog Devices stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $90.00, for a total value of $1,125,000.00. Following the completion of the sale, the director now directly owns 21,910 shares of the company’s stock, valued at approximately $1,971,900. The disclosure for this sale can be found here. In the last three months, insiders sold 132,994 shares of company stock valued at $11,370,618. Corporate insiders own 1.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Analog Devices by 3.0% in the second quarter. Vanguard Group Inc. now owns 29,053,102 shares of the semiconductor company’s stock worth $2,260,331,000 after acquiring an additional 847,762 shares during the period. BlackRock Inc. grew its holdings in shares of Analog Devices by 6.2% in the second quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock worth $1,904,749,000 after acquiring an additional 1,437,338 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Analog Devices by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 16,692,851 shares of the semiconductor company’s stock worth $1,429,574,000 after acquiring an additional 213,714 shares during the period. Franklin Resources Inc. grew its holdings in shares of Analog Devices by 54.1% in the second quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock worth $719,786,000 after acquiring an additional 3,248,336 shares during the period. Finally, FMR LLC grew its holdings in shares of Analog Devices by 14.6% in the second quarter. FMR LLC now owns 8,889,572 shares of the semiconductor company’s stock worth $691,608,000 after acquiring an additional 1,132,549 shares during the period. 87.44% of the stock is owned by institutional investors.
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About Analog Devices
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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