Needham & Company LLC Reaffirms "Hold" Rating for Analog Devices (NASDAQ:ADI)

Needham & Company LLC restated their hold rating on shares of Analog Devices (NASDAQ:ADI - Free Report) in a report released on Friday,Benzinga reports.

Several other research analysts also recently weighed in on ADI. Citigroup upped their price target on Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Barclays decreased their price objective on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Maxim Group started coverage on Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating on the stock. TD Cowen lifted their price target on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Benchmark reiterated a "buy" rating and issued a $260.00 price objective (down from $275.00) on shares of Analog Devices in a report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $248.63.

Analog Devices Price Performance

ADI traded up $6.42 during trading on Friday, reaching $216.89. The stock had a trading volume of 5,542,165 shares, compared to its average volume of 4,179,540. 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 stock has a market cap of $107.57 billion, a PE ratio of 69.07, a PEG ratio of 2.85 and a beta of 0.98. The business has a 50-day moving average of $197.67 and a 200-day moving average of $210.03. Analog Devices has a one year low of $158.65 and a one year high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last released 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 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 analyst estimates of $2.50 billion. During the same period in the previous year, the company posted $1.40 earnings per share. The firm's revenue was up 22.3% on a year-over-year basis. As a group, equities research analysts anticipate that Analog Devices will post 7.14 EPS for the current fiscal year.

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

Analog Devices Dividend Announcement

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 issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Wednesday, June 4th. Analog Devices's payout ratio is presently 107.90%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock valued at $8,735,156 in the last ninety days. Insiders own 0.33% of the company's stock.

Institutional Trading of Analog Devices

Several large investors have recently modified their holdings of ADI. EFG Asset Management North America Corp. boosted its stake in shares of Analog Devices by 0.3% in the 1st quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company's stock valued at $2,866,000 after purchasing an additional 47 shares during the last quarter. Midwest Professional Planners LTD. raised its position in shares of Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after buying an additional 53 shares in the last quarter. Portland Global Advisors LLC grew its position in Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after acquiring an additional 53 shares during the last quarter. Heritage Financial Services LLC boosted its position in Analog Devices by 1.6% during the 1st quarter. Heritage Financial Services LLC now owns 3,317 shares of the semiconductor company's stock valued at $669,000 after buying an additional 53 shares during the period. Finally, NTV Asset Management LLC boosted its holdings in Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after acquiring an additional 54 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

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.