Cantor Fitzgerald Upgrades Analog Devices (NASDAQ:ADI) to “Overweight”

Cantor Fitzgerald upgraded shares of Analog Devices (NASDAQ:ADI) from a neutral rating to an overweight rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. Cantor Fitzgerald currently has $270.00 target price on the semiconductor company’s stock, up from their prior target price of $250.00.

Several other research firms have also recently commented on ADI. Seaport Res Ptn upgraded Analog Devices to a “strong sell” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Cowen reiterated a “buy” rating on shares of Analog Devices in a research report on Friday, May 23rd. Wall Street Zen upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Finally, Truist Financial lifted their price target on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.75.

Analog Devices Stock Down 0.6%

ADI opened at $228.35 on Wednesday. Analog Devices has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The stock has a market cap of $113.32 billion, a P/E ratio of 62.22, a P/E/G ratio of 2.12 and a beta of 1.00. The stock’s 50 day moving average price is $209.55 and its 200 day moving average price is $211.14.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm earned $1.40 EPS. The firm’s revenue was up 22.3% compared to the same quarter last year. As a group, research analysts predict that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices’s dividend payout ratio is presently 107.90%.

Insider Transactions at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares of the company’s stock, valued at approximately $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,934 shares of company stock valued at $5,807,196 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Analog Devices

Hedge funds and other institutional investors have recently modified their holdings of the business. Activest Wealth Management boosted its position in shares of Analog Devices by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 127 shares during the period. Orion Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter valued at $27,000. Menard Financial Group LLC acquired a new stake in Analog Devices during the fourth quarter valued at $27,000. Alpine Bank Wealth Management purchased a new position in Analog Devices in the first quarter valued at about $27,000. Finally, Mainstream Capital Management LLC purchased a new position in Analog Devices in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

About Analog Devices

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.