Analog Devices, Inc. (NASDAQ:ADI) has been assigned a consensus rating of “Buy” from the twenty-three brokerages that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $106.84.

Several research analysts have recently weighed in on ADI shares. Oppenheimer lifted their price target on shares of Analog Devices from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 30th. Stifel Nicolaus lifted 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. B. Riley lowered their target price on shares of Analog Devices from $122.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, May 31st. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $95.00 to $101.00 and gave the company a “neutral” rating in a research note on Thursday, May 31st. Finally, Deutsche Bank lifted 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.

In other Analog Devices news, SVP Joseph Hassett sold 12,000 shares of Analog Devices stock in a transaction on Monday, August 27th. The shares were sold at an average price of $100.40, for a total value of $1,204,800.00. Following the sale, the senior vice president now directly owns 26,711 shares in the company, valued at approximately $2,681,784.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $97.19, for a total transaction of $971,900.00. Following the completion of the sale, the chief executive officer now owns 27,376 shares in the company, valued at $2,660,673.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,655 shares of company stock worth $10,425,833. 0.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. 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 valued at $103,000 after acquiring an additional 600 shares during the last quarter. Fort L.P. bought a new stake in Analog Devices in the 2nd quarter valued at $117,000. Integrated Investment Consultants LLC bought a new stake in Analog Devices in the 2nd quarter valued at $130,000. Clarus Wealth Advisors bought a new stake in Analog Devices in the 2nd quarter valued at $139,000. Finally, Gables Capital Management Inc. bought a new stake in shares of Analog Devices in the 1st quarter worth about $173,000. Institutional investors own 88.02% of the company’s stock.

Shares of Analog Devices stock opened at $95.00 on Friday. The firm has a market cap of $35.15 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 1.30 and a beta of 1.18. Analog Devices has a 1-year low of $80.95 and a 1-year high of $103.59. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.16 and a current ratio of 1.58.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share for the quarter, topping 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 company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 EPS. equities analysts expect that Analog Devices will post 5.89 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Friday, August 31st were issued a $0.48 dividend. The ex-dividend date was Thursday, August 30th. This represents a $1.92 dividend on an annualized basis and a yield of 2.02%. Analog Devices’s dividend payout ratio is currently 40.68%.

Analog Devices announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 21st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

About Analog Devices

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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