Analog Devices, Inc. (ADI) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Analog Devices, Inc. (NASDAQ:ADI) from a hold rating to a buy rating in a research note issued to investors on Tuesday. They currently have $98.00 target price on the semiconductor company’s stock.
According to Zacks, “Analog Devices is a leading supplier of analog and DSP integrated circuits. The company delivered better-than-expected fiscal third-quarter 2017 results beating the Zacks Consensus Estimate on both counts. Results were driven by strength across all the markets and positive contributions from Linear Technology acquisition. Analog Devices' leading market position, focus on communications, automotive and industrial markets, margin expansion initiatives and strong balance sheet are positives. However, we remain concerned about competitive pressures across several markets. Year to date, the stock has underperformed the industry it belongs to.”
Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada reissued a buy rating and issued a $92.00 price objective on shares of Analog Devices in a research note on Friday, August 4th. Jefferies Group LLC reaffirmed a buy rating on shares of Analog Devices in a research note on Monday, July 10th. B. Riley reaffirmed a buy rating and set a $103.00 price target on shares of Analog Devices in a research note on Tuesday, June 27th. Drexel Hamilton reaffirmed a buy rating and set a $105.00 price target on shares of Analog Devices in a research note on Wednesday, August 30th. Finally, BidaskClub raised Analog Devices from a hold rating to a buy rating in a research note on Saturday, September 2nd. Eleven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $92.85.
Analog Devices (ADI) traded up 0.36% on Tuesday, hitting $89.15. 170,192 shares of the stock were exchanged. Analog Devices has a 52 week low of $60.97 and a 52 week high of $90.49. The company’s 50-day moving average is $84.11 and its 200-day moving average is $80.60. The company has a market cap of $32.78 billion, a PE ratio of 44.38 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The business’s revenue for the quarter was up 64.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. On average, analysts predict that Analog Devices will post $4.62 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Friday, September 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.80 annualized dividend and a yield of 2.03%. Analog Devices’s payout ratio is presently 86.12%.
In other news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $80.35, for a total transaction of $241,050.00. Following the transaction, the senior vice president now owns 20,404 shares in the company, valued at $1,639,461.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenton J. Sicchitano sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $88.15, for a total value of $1,322,250.00. The disclosure for this sale can be found here. Insiders have sold 126,494 shares of company stock worth $10,677,931 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ADI. Pathstone Family Office LLC grew its position in Analog Devices by 75.0% during the second quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock worth $1,557,000 after buying an additional 15 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Analog Devices during the first quarter worth approximately $100,000. Guardian Life Insurance Co. of America grew its position in Analog Devices by 18.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after buying an additional 223 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Analog Devices by 51.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after buying an additional 475 shares in the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in Analog Devices during the second quarter worth approximately $119,000. Institutional investors own 86.67% of the company’s stock.
Analog Devices Company Profile
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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