Seaport Res Ptn upgraded shares of Analog Devices (NASDAQ:ADI - Free Report) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports.
ADI has been the topic of several other research reports. Cantor Fitzgerald raised shares of Analog Devices from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $250.00 to $270.00 in a research 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. Noble Financial upgraded shares of Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. Keefe, Bruyette & Woods upgraded shares of Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. Finally, Piper Sandler lowered their price objective on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong 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 $258.89.
Read Our Latest Report on Analog Devices
Analog Devices Price Performance
Shares of Analog Devices stock traded down $3.16 during trading on Monday, hitting $224.92. 2,631,070 shares of the company were exchanged, compared to its average volume of 4,007,298. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. Analog Devices has a fifty-two week low of $158.65 and a fifty-two week high of $247.73. The stock has a market capitalization of $111.62 billion, a price-to-earnings ratio of 61.22, a P/E/G ratio of 2.17 and a beta of 1.02. The firm has a 50 day moving average price of $230.63 and a 200 day moving average price of $215.12.
Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm posted $1.40 EPS. The business's revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities analysts expect that Analog Devices will post 7.14 earnings per share for the current fiscal year.
Analog Devices Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.76%. Analog Devices's payout ratio is currently 107.90%.
Insider Transactions at Analog Devices
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 142,996 shares in the company, valued at $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 available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred 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 sale, the director directly owned 167,571 shares in the company, valued at $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,250 shares of company stock worth $3,327,994. 0.33% of the stock is currently owned by insiders.
Institutional Trading of Analog Devices
Several hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. increased its position in shares of Analog Devices by 284.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company's stock worth $6,262,000 after acquiring an additional 22,973 shares in the last quarter. Broderick Brian C increased its position in shares of Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after acquiring an additional 2,017 shares in the last quarter. Freestone Grove Partners LP bought a new stake in shares of Analog Devices during the fourth quarter worth $10,212,000. Sowell Financial Services LLC bought a new stake in shares of Analog Devices during the first quarter worth $296,000. Finally, Keybank National Association OH increased its position in shares of Analog Devices by 85.8% during the first quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock worth $5,461,000 after acquiring an additional 12,505 shares in the last quarter. 86.81% of the stock is owned by institutional investors.
About Analog Devices
(
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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.
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