Analog Devices (NASDAQ:ADI) Price Target Cut to $215.00 by Analysts at Piper Sandler

Analog Devices (NASDAQ:ADI - Free Report) had its price objective lowered by Piper Sandler from $240.00 to $215.00 in a research report released on Friday,Benzinga reports. The firm currently has a neutral rating on the semiconductor company's stock.

A number of other analysts have also recently commented on the company. Morgan Stanley lowered their price target on Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research note on Friday. Stifel Nicolaus upped their target price on shares of Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. UBS Group lowered their price objective on shares of Analog Devices from $300.00 to $295.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, Evercore ISI raised their price objective on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $248.63.

Analog Devices Trading Up 3.1%

Shares of Analog Devices stock traded up $6.42 on Friday, hitting $216.89. 5,542,165 shares of the company's stock traded hands, compared to its average volume of 3,525,333. The firm's 50-day moving average price is $197.67 and its two-hundred day moving average price is $210.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a market capitalization of $107.57 billion, a PE ratio of 69.07, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. 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 announced 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. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 earnings per share. On average, research analysts expect that Analog Devices will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the business's 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the sale, the director now owns 180,071 shares in the company, valued at $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 Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in Analog Devices in the 4th quarter valued at $1,755,958,000. Raymond James Financial Inc. bought a new position in Analog Devices during the 4th quarter worth $833,386,000. Proficio Capital Partners LLC lifted its holdings in shares of Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock worth $652,943,000 after buying an additional 3,059,349 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Analog Devices by 26.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company's stock valued at $2,304,098,000 after acquiring an additional 2,407,460 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Analog Devices by 25,460.1% in the first quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock valued at $446,037,000 after acquiring an additional 2,203,062 shares in the last quarter. Institutional investors and hedge funds 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.