Analog Devices' (ADI) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Analog Devices (NASDAQ:ADI - Free Report) in a research note published on Friday morning,Benzinga reports.

Several other analysts have also weighed in on ADI. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. TD Cowen raised their price target on Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Oppenheimer boosted their price objective on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Barclays dropped their target price on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Benchmark reiterated a "buy" rating and issued a $260.00 price objective (down from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $248.63.

Analog Devices Stock Up 0.2%

Shares of ADI traded up $0.47 during trading hours on Friday, hitting $217.36. 1,370,418 shares of the company were exchanged, compared to its average volume of 3,517,182. Analog Devices has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The firm's 50 day moving average is $197.89 and its 200-day moving average is $210.07. The company has a market cap of $107.80 billion, a PE ratio of 69.23, a PEG ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the business posted $1.40 EPS. The company's revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has approved a share buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.99 per share. 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 Transactions at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the sale, the director now owns 180,071 shares of the company's stock, valued at approximately $35,265,104.64. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock worth $8,735,156 in the last three months. Insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Analog Devices

Several institutional investors have recently made changes to their positions in the stock. Activest Wealth Management boosted its holdings 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 acquiring an additional 127 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $27,000. Menard Financial Group LLC acquired a new position in shares of Analog Devices during the fourth quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new position in Analog Devices during the first quarter worth $27,000. Finally, Mainstream Capital Management LLC bought a new position in Analog Devices in the 4th quarter valued at about $30,000. 86.81% of the stock is currently owned by institutional investors.

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.