Analog Devices, Inc. (NASDAQ:ADI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Analog Devices, Inc. (NASDAQ:ADI) have been given a consensus rating of “Moderate Buy” by the twenty-four analysts that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $255.41.

Several analysts recently commented on the company. Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Barclays lowered their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, UBS Group upped their price target on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th.

Analog Devices Stock Performance

ADI opened at $228.53 on Thursday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices has a 12-month low of $182.57 and a 12-month high of $247.10. The firm has a 50 day moving average of $217.82 and a two-hundred day moving average of $221.14. The firm has a market capitalization of $113.35 billion, a PE ratio of 72.78, a P/E/G ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. On average, analysts anticipate that Analog Devices will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has approved a share buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s 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 sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Several hedge funds have recently modified their holdings of the stock. Orion Capital Management LLC acquired a new position in Analog Devices during the fourth quarter valued at approximately $27,000. Menard Financial Group LLC bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $28,000. Mainstream Capital Management LLC bought a new position in shares of Analog Devices in the fourth quarter valued at $30,000. Finally, Hopwood Financial Services Inc. acquired a new position in Analog Devices during the fourth quarter worth $30,000. Institutional investors 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.