Analog Devices (NASDAQ:ADI) Price Target Raised to $205.00 at Wells Fargo & Company

Analog Devices (NASDAQ:ADI - Free Report) had its price target raised by Wells Fargo & Company from $200.00 to $205.00 in a research report sent to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor company's stock.

ADI has been the topic of several other reports. Lake Street Capital initiated coverage on Analog Devices in a research note on Friday, February 14th. They set a "buy" rating on the stock. Oppenheimer raised their price target on shares of Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Maxim Group started coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Cantor Fitzgerald lifted their target price on shares of Analog Devices from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Finally, Stifel Nicolaus lifted their target price on shares of Analog Devices from $225.00 to $248.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and an average target price of $248.63.

Analog Devices Stock Down 0.6%

Shares of Analog Devices stock traded down $1.27 during trading hours on Friday, reaching $215.62. The company's stock had a trading volume of 3,717,590 shares, compared to its average volume of 3,526,631. Analog Devices has a one year low of $158.65 and a one year high of $247.10. The company has a market capitalization of $106.94 billion, a P/E ratio of 68.67, a P/E/G ratio of 2.85 and a beta of 0.98. The stock's fifty day simple moving average is $197.89 and its two-hundred day simple moving average is $210.07. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the firm earned $1.40 EPS. The firm'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 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.84%. The ex-dividend date is Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

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

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the sale, the chief executive officer now owns 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

Institutional investors and hedge funds have recently made changes to their positions in the business. Activest Wealth Management raised its holdings 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 acquiring an additional 127 shares in the last quarter. Orion Capital Management LLC purchased a new stake in Analog Devices in the fourth quarter valued at approximately $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices in the fourth quarter valued at approximately $27,000. Alpine Bank Wealth Management purchased a new stake in Analog Devices in the first quarter valued at approximately $27,000. Finally, Mainstream Capital Management LLC purchased a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Hedge funds and other 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.