BidaskClub downgraded shares of Analog Devices (NASDAQ:ADI) from a hold rating to a sell rating in a research report report published on Thursday morning.

A number of other equities analysts have also commented on the company. Drexel Hamilton reiterated a buy rating and issued a $105.00 price objective on shares of Analog Devices in a research note on Wednesday, August 30th. Jefferies Group reiterated a buy rating and issued a $100.00 price objective on shares of Analog Devices in a research note on Thursday, October 19th. Citigroup reiterated a neutral rating and issued a $88.00 price objective (down from $91.00) on shares of Analog Devices in a research note on Friday, September 1st. Zacks Investment Research upgraded Analog Devices from a hold rating to a buy rating and set a $98.00 price objective on the stock in a research note on Tuesday, October 10th. Finally, Oppenheimer reiterated a buy rating and issued a $100.00 price objective on shares of Analog Devices in a research note on Friday, November 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $96.24.

Analog Devices (ADI) traded up $1.25 during midday trading on Thursday, reaching $86.69. The company’s stock had a trading volume of 3,715,944 shares, compared to its average volume of 2,972,042. Analog Devices has a one year low of $71.00 and a one year high of $93.99. The company has a current ratio of 1.47, a quick ratio of 1.13 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $31,400.40, a price-to-earnings ratio of 18.20, a P/E/G ratio of 1.57 and a beta of 1.29.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $1.05 earnings per share. The business’s revenue was up 53.4% compared to the same quarter last year. analysts forecast that Analog Devices will post 5.2 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Thursday, November 30th. Analog Devices’s payout ratio is 86.96%.

In related news, SVP Peter Real sold 4,505 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $83.52, for a total value of $376,257.60. Following the completion of the transaction, the senior vice president now owns 13,531 shares in the company, valued at approximately $1,130,109.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $85.17, for a total transaction of $8,517,000.00. The disclosure for this sale can be found here. Insiders have sold 194,256 shares of company stock worth $16,709,094 over the last ninety days. Company insiders own 1.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ADI. Franklin Resources Inc. raised its position in Analog Devices by 54.1% in the 2nd quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock worth $719,786,000 after purchasing an additional 3,248,336 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Analog Devices by 97.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,303,569 shares of the semiconductor company’s stock valued at $370,839,000 after acquiring an additional 2,123,268 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Analog Devices by 576.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,785,372 shares of the semiconductor company’s stock valued at $138,903,000 after acquiring an additional 1,521,316 shares during the last quarter. BlackRock Inc. raised its position in shares of Analog Devices by 6.2% during the 2nd quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock valued at $1,904,749,000 after acquiring an additional 1,437,338 shares during the last quarter. Finally, Prudential PLC raised its position in shares of Analog Devices by 23,301.9% during the 2nd quarter. Prudential PLC now owns 1,304,189 shares of the semiconductor company’s stock valued at $101,466,000 after acquiring an additional 1,298,616 shares during the last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.

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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.

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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