Analog Devices (NASDAQ:ADI) Price Target Raised to $280.00 at Evercore ISI

Analog Devices (NASDAQ:ADI - Free Report) had its price objective upped by Evercore ISI from $231.00 to $280.00 in a research report report published on Friday,Benzinga reports. Evercore ISI currently has an outperform rating on the semiconductor company's stock.

Several other research firms also recently commented on ADI. Benchmark reaffirmed a "buy" rating and issued a $260.00 price objective (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. JPMorgan Chase & Co. upped their target price on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $248.63.

Analog Devices Stock Performance

Shares of Analog Devices stock traded up $0.40 during trading on Friday, reaching $217.29. The company's stock had a trading volume of 1,370,418 shares, compared to its average volume of 3,517,182. The business's 50-day moving average price is $197.89 and its 200-day moving average price is $210.07. Analog Devices has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a market cap of $107.77 billion, a PE ratio of 69.23, a P/E/G ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the company earned $1.40 EPS. Equities analysts forecast that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has authorized a stock repurchase plan 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 plans are often an indication that the company's leadership believes its stock is undervalued.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.82%. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Activity

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,934 shares of company stock valued at $8,735,156. Corporate insiders own 0.33% of the company's stock.

Hedge Funds Weigh In On Analog Devices

Several institutional investors have recently made changes to their positions in the company. Activest Wealth Management raised its stake in shares of Analog Devices by 6,350.0% during 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 during the last quarter. Orion Capital Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $27,000. Alpine Bank Wealth Management acquired a new position in shares of Analog Devices during the 1st quarter worth about $27,000. Finally, Mainstream Capital Management LLC acquired a new position in shares of Analog Devices in the 4th quarter valued at $30,000. Hedge funds and other institutional investors 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.