Analog Devices (ADI) Price Target Increased to $110.00 by Analysts at Argus
Analog Devices (NASDAQ:ADI) had its target price upped by Argus from $100.00 to $110.00 in a report published on Thursday morning. They currently have a buy rating on the semiconductor company’s stock. The analysts noted that the move was a valuation call.
Several other equities research analysts also recently commented on the stock. B. Riley reissued a buy rating and set a $113.00 target price (up from $110.00) on shares of Analog Devices in a research report on Thursday, November 16th. Oppenheimer reissued a buy rating and set a $100.00 target price on shares of Analog Devices in a research report on Friday, November 17th. Stifel Nicolaus boosted their target price on shares of Analog Devices from $97.00 to $98.00 and gave the stock a buy rating in a research report on Thursday, November 16th. Morgan Stanley boosted their target price on shares of Analog Devices from $103.00 to $108.00 and gave the stock an overweight rating in a research report on Wednesday, December 13th. Finally, Jefferies Group boosted their target price on shares of Analog Devices to $110.00 and gave the stock a buy rating in a research report on Wednesday, November 22nd. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Analog Devices has a consensus rating of Buy and a consensus target price of $100.00.
Shares of Analog Devices (ADI) opened at $89.53 on Thursday. Analog Devices has a 52 week low of $74.65 and a 52 week high of $98.38. The company has a quick ratio of 1.13, a current ratio of 1.76 and a debt-to-equity ratio of 0.71. The firm has a market cap of $33,108.55, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 1.39 and a beta of 1.25.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Friday, March 9th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, March 8th. This is a boost from Analog Devices’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 2.14%. Analog Devices’s payout ratio is 86.12%.
In other Analog Devices news, SVP Margaret K. Seif sold 7,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $88.50, for a total value of $619,500.00. Following the transaction, the senior vice president now directly owns 20,404 shares in the company, valued at $1,805,754. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 100,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were 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. Over the last 90 days, insiders have sold 174,618 shares of company stock worth $15,142,228. 1.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADI. Sit Investment Associates Inc. raised its position in shares of Analog Devices by 381.1% in the fourth quarter. Sit Investment Associates Inc. now owns 1,275 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 1,010 shares during the period. Icon Wealth Partners LLC bought a new stake in shares of Analog Devices in the fourth quarter valued at approximately $121,000. Fieldpoint Private Securities LLC raised its position in shares of Analog Devices by 91.6% in the third quarter. Fieldpoint Private Securities LLC now owns 1,475 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 705 shares during the period. Clear Perspective Advisors LLC raised its position in shares of Analog Devices by 3,884.2% in the third quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock valued at $130,000 after purchasing an additional 1,476 shares during the period. Finally, Cerebellum GP LLC bought a new stake in shares of Analog Devices in the fourth quarter valued at approximately $130,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.
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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