Analog Devices (NASDAQ:ADI) Receives “Buy” Rating from Benchmark

Benchmark restated their buy rating on shares of Analog Devices (NASDAQ:ADI) in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage currently has a $285.00 price objective on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on the company. BNP Paribas Exane initiated coverage on Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price objective on the stock. Piper Sandler set a $290.00 target price on Analog Devices in a research report on Tuesday. Morgan Stanley increased their price target on Analog Devices from $273.00 to $288.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Analog Devices in a research note on Wednesday, November 19th. Finally, Evercore ISI reduced their target price on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $281.87.

Analog Devices Trading Up 2.3%

ADI stock opened at $257.92 on Wednesday. The firm has a fifty day moving average price of $239.06 and a 200 day moving average price of $235.77. Analog Devices has a fifty-two week low of $158.65 and a fifty-two week high of $260.74. The firm has a market cap of $126.89 billion, a PE ratio of 65.80, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the business earned $1.67 earnings per share. Analog Devices’s quarterly revenue was up 25.9% compared to the same quarter last year. Sell-side analysts anticipate that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, December 8th. Analog Devices’s payout ratio is 101.02%.

Insider Transactions at Analog Devices

In related news, SVP Martin Cotter sold 12,500 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the completion of the sale, the senior vice president directly owned 63,048 shares in the company, valued at $15,525,570. This represents a 16.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the sale, the chief executive officer directly owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. The trade was a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 39,750 shares of company stock worth $9,598,496. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

A number of large investors have recently modified their holdings of ADI. Quent Capital LLC increased its stake in Analog Devices by 2.4% during the 3rd quarter. Quent Capital LLC now owns 1,810 shares of the semiconductor company’s stock valued at $445,000 after purchasing an additional 42 shares in the last quarter. Baader Bank Aktiengesellschaft grew its holdings in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock valued at $270,000 after buying an additional 43 shares during the last quarter. Carson Advisory Inc. grew its holdings in shares of Analog Devices by 3.1% during the third quarter. Carson Advisory Inc. now owns 1,441 shares of the semiconductor company’s stock valued at $354,000 after buying an additional 43 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Analog Devices by 2.5% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,796 shares of the semiconductor company’s stock valued at $441,000 after acquiring an additional 44 shares during the period. Finally, Klingman & Associates LLC raised its stake in Analog Devices by 3.7% in the 3rd quarter. Klingman & Associates LLC now owns 1,274 shares of the semiconductor company’s stock worth $313,000 after acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.