Analog Devices (NASDAQ:ADI) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Analog Devices (NASDAQ:ADI - Free Report) in a research note issued to investors on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $285.00 price objective on the semiconductor company's stock.

A number of other equities research analysts have also recently issued reports on ADI. KeyCorp raised their target price on Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday. Citigroup reissued a "buy" rating and issued a $290.00 price objective (up from $260.00) on shares of Analog Devices in a report on Monday. UBS Group dropped their price target on shares of Analog Devices from $285.00 to $280.00 and set a "buy" rating on the stock in a research report on Monday. Benchmark restated a "buy" rating and set a $260.00 price target (down from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Cantor Fitzgerald raised Analog Devices from a "neutral" rating to an "overweight" rating and raised their target price for the company from $250.00 to $270.00 in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Analog Devices has an average rating of "Moderate Buy" and an average target price of $257.67.

Analog Devices Stock Up 0.0%

Shares of ADI stock traded up $0.11 during trading hours on Thursday, reaching $245.24. The company had a trading volume of 911,078 shares, compared to its average volume of 3,595,789. Analog Devices has a twelve month low of $158.65 and a twelve month high of $247.73. 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 company has a market capitalization of $121.70 billion, a P/E ratio of 66.88, a price-to-earnings-growth ratio of 2.24 and a beta of 1.02. The stock's fifty day simple moving average is $225.10 and its 200 day simple moving average is $213.59.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share 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 business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, sell-side analysts expect that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the sale, the director owned 180,071 shares of the company's stock, valued at $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer directly owned 142,996 shares of the company's stock, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock worth $3,143,556 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Analog Devices

Institutional investors and hedge funds have recently made changes to their positions in the stock. Orion Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter worth about $27,000. Menard Financial Group LLC acquired a new position in shares of Analog Devices in the 4th quarter valued at $27,000. Activest Wealth Management raised its stake in shares of Analog Devices by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company's stock valued at $26,000 after buying an additional 127 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Analog Devices in the 1st quarter valued at $27,000. Finally, Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices in the 4th quarter valued at $30,000. Institutional investors and hedge funds 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.