Analog Devices, Inc. (NASDAQ:ADI) Given Consensus Rating of “Moderate Buy” by Brokerages

Analog Devices, Inc. (NASDAQ:ADI) has been assigned a consensus rating of “Moderate Buy” from the twenty-four research firms that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $255.41.

Several analysts have recently issued reports on the company. Morgan Stanley upped their price target on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Williams Trading set a $245.00 target price on shares of Analog Devices in a research note on Friday, February 14th. Finally, Benchmark boosted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,684 shares of company stock worth $7,746,500 in the last 90 days. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently bought and sold shares of ADI. Fire Capital Management LLC bought a new position in shares of Analog Devices in the fourth quarter valued at about $352,000. Wellington Management Group LLP raised its stake in shares of Analog Devices by 67.7% in the fourth quarter. Wellington Management Group LLP now owns 72,698 shares of the semiconductor company’s stock worth $15,445,000 after acquiring an additional 29,349 shares during the last quarter. 111 Capital acquired a new position in shares of Analog Devices during the fourth quarter worth approximately $550,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Analog Devices by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 275,604 shares of the semiconductor company’s stock valued at $58,555,000 after purchasing an additional 4,694 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC increased its holdings in shares of Analog Devices by 1.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 107,201 shares of the semiconductor company’s stock valued at $22,776,000 after purchasing an additional 1,353 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 3.5 %

Shares of NASDAQ ADI opened at $201.56 on Monday. The business has a 50 day simple moving average of $216.51 and a 200 day simple moving average of $219.49. Analog Devices has a 52 week low of $182.57 and a 52 week high of $247.10. The stock has a market cap of $99.97 billion, a price-to-earnings ratio of 64.19, a PEG ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts predict that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.96%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices declared that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.