Analog Devices, Inc. (NASDAQ:ADI) Receives $258.89 Average Price Target from Analysts

Key Points

• Analog Devices, Inc. has been rated as a “Moderate Buy” by analysts, with 19 buy recommendations and an average 12-month price target of $258.89.
• In recent trading activity, CEO Vincent Roche sold 10,000 shares at an average price of $196.84, indicating a 6.54% decrease in his ownership of the stock.
• The company reported strong financial performance with $2.64 billion in revenue, surpassing estimates, and a 22.3% year-over-year revenue increase.

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-six research firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $258.89.

ADI has been the subject of several recent analyst reports. Raymond James Financial raised shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, June 18th. Williams Trading set a $260.00 price target on shares of Analog Devices in a research note on Friday, May 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research note on Friday, May 23rd. Noble Financial upgraded shares of Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. Finally, TD Cowen boosted their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the transaction, the chief executive officer owned 142,996 shares of the company's stock, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the transaction, the director directly owned 167,571 shares of the company's stock, valued at $40,088,010.33. The trade was a 1.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,250 shares of company stock valued at $3,327,994. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its holdings in Analog Devices by 284.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company's stock valued at $6,262,000 after buying an additional 22,973 shares in the last quarter. Broderick Brian C grew its position in shares of Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after purchasing an additional 2,017 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $10,212,000. Sowell Financial Services LLC acquired a new stake in shares of Analog Devices in the first quarter valued at about $296,000. Finally, Keybank National Association OH grew its position in shares of Analog Devices by 85.8% in the first quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock valued at $5,461,000 after purchasing an additional 12,505 shares during the period. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

Shares of ADI stock traded up $0.36 during mid-day trading on Friday, reaching $231.11. 2,320,737 shares of the company's stock traded hands, compared to its average volume of 3,152,955. Analog Devices has a 12 month low of $158.65 and a 12 month high of $247.73. The firm has a 50 day moving average price of $231.06 and a two-hundred day moving average price of $215.53. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. The firm has a market capitalization of $114.69 billion, a PE ratio of 62.97, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. On average, research analysts forecast that Analog Devices will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.71%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

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.