Raymond James lowered shares of Analog Devices (NASDAQ:ADI) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm currently has $110.00 price objective on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank upped their target price on shares of Analog Devices from $87.00 to $93.00 and gave the company a hold rating in a research note on Thursday, May 31st. Zacks Investment Research upgraded shares of Analog Devices from a hold rating to a buy rating and set a $107.00 target price on the stock in a research note on Thursday, August 23rd. KeyCorp assumed coverage on shares of Analog Devices in a research note on Tuesday. They set a sector weight rating on the stock. Stifel Nicolaus upped their target price on shares of Analog Devices from $105.00 to $108.00 and gave the company a buy rating in a research note on Thursday, May 31st. Finally, BidaskClub cut shares of Analog Devices from a strong-buy rating to a buy rating in a research note on Saturday, June 30th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $107.00.

ADI opened at $92.56 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.60. The stock has a market cap of $35.31 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 1.30 and a beta of 1.18. Analog Devices has a 52-week low of $80.95 and a 52-week high of $103.59.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.07. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 EPS. analysts expect that Analog Devices will post 5.89 EPS for the current year.

Analog Devices declared that its Board of Directors has authorized a stock buyback program on Tuesday, August 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 5.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Friday, August 31st were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Thursday, August 30th. Analog Devices’s dividend payout ratio (DPR) is presently 40.68%.

In related news, SVP Margaret K. Seif sold 2,700 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $97.19, for a total value of $262,413.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $95.04, for a total transaction of $950,400.00. The disclosure for this sale can be found here. Insiders sold a total of 106,655 shares of company stock worth $10,425,833 in the last quarter. Company insiders own 0.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Washington Trust Bank increased its holdings in Analog Devices by 127.7% in the 2nd quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock worth $103,000 after acquiring an additional 600 shares in the last quarter. Fort L.P. purchased a new stake in Analog Devices in the 2nd quarter worth approximately $117,000. Integrated Investment Consultants LLC purchased a new stake in Analog Devices in the 2nd quarter worth approximately $130,000. Clarus Wealth Advisors purchased a new stake in Analog Devices in the 2nd quarter worth approximately $139,000. Finally, Gables Capital Management Inc. purchased a new stake in Analog Devices in the 1st quarter worth approximately $173,000. 88.02% of the stock is owned by institutional investors.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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