Morgan Stanley Reiterates "Overweight" Rating for Analog Devices (NASDAQ:ADI)

Morgan Stanley reiterated their overweight rating on shares of Analog Devices (NASDAQ:ADI - Free Report) in a research note released on Thursday, Benzinga reports. The brokerage currently has a $212.00 target price on the semiconductor company's stock.

A number of other analysts have also recently commented on ADI. Edward Jones upgraded Analog Devices from a hold rating to a buy rating in a research report on Friday, December 22nd. Wolfe Research upgraded Analog Devices from a peer perform rating to an outperform rating and set a $225.00 price objective for the company in a research report on Thursday, January 18th. KeyCorp lifted their price objective on Analog Devices from $220.00 to $230.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Sanford C. Bernstein cut Analog Devices from an outperform rating to a market perform rating and set a $200.00 price objective for the company. in a research report on Thursday, January 4th. Finally, Truist Financial dropped their price objective on Analog Devices from $226.00 to $222.00 and set a buy rating for the company in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Analog Devices has an average rating of Moderate Buy and an average target price of $206.26.

Analog Devices Stock Performance

Shares of ADI stock traded up $2.31 during trading hours on Thursday, hitting $198.64. The stock had a trading volume of 3,427,096 shares, compared to its average volume of 3,377,996. The firm has a market capitalization of $98.51 billion, a PE ratio of 35.00, a PEG ratio of 4.93 and a beta of 1.17. Analog Devices has a twelve month low of $154.99 and a twelve month high of $204.20. The stock's 50 day moving average is $193.11 and its 200 day moving average is $185.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company's revenue for the quarter was down 22.7% on a year-over-year basis. During the same period last year, the company earned $2.75 earnings per share. As a group, research analysts forecast that Analog Devices will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a yield of 1.85%. Analog Devices's payout ratio is currently 65.83%.

Insider Activity

In other news, Director James Champy sold 1,228 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director James Champy sold 1,228 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company's stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,707 shares of company stock worth $4,825,113. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ADI. Amarillo National Bank raised its holdings in shares of Analog Devices by 3.7% in the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company's stock worth $300,000 after purchasing an additional 54 shares in the last quarter. Keystone Financial Services raised its holdings in shares of Analog Devices by 1.8% in the 4th quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company's stock worth $623,000 after purchasing an additional 55 shares in the last quarter. Ancora Advisors LLC raised its holdings in shares of Analog Devices by 2.1% in the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company's stock worth $480,000 after purchasing an additional 57 shares in the last quarter. Legacy Advisors LLC raised its holdings in shares of Analog Devices by 2.3% in the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company's stock worth $465,000 after purchasing an additional 59 shares in the last quarter. Finally, MRA Advisory Group increased its position in shares of Analog Devices by 2.5% in the third quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company's stock worth $444,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds 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.