Analog Devices (NASDAQ:ADI) Stock Price Expected to Rise, TD Cowen Analyst Says

Analog Devices (NASDAQ:ADI - Free Report) had its price objective increased by TD Cowen from $200.00 to $250.00 in a research note published on Friday, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the semiconductor company's stock.

A number of other research firms have also recently weighed in on ADI. Barclays dropped their target price on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. Finally, Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $248.63.

Analog Devices Trading Up 0.2%

NASDAQ:ADI traded up $0.47 on Friday, reaching $217.36. 1,370,418 shares of the stock traded hands, compared to its average volume of 3,517,182. Analog Devices has a 1-year low of $158.65 and a 1-year high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company's 50 day moving average is $197.89 and its 200-day moving average is $210.07. The firm has a market capitalization of $107.80 billion, a price-to-earnings ratio of 69.23, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98.

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, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

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

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at $13,575,652.16. The trade was a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction 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 sale, 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 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. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Analog Devices

Several hedge funds have recently made changes to their positions in ADI. Dakota Wealth Management boosted its holdings in Analog Devices by 2.4% during the 4th quarter. Dakota Wealth Management now owns 8,894 shares of the semiconductor company's stock valued at $1,890,000 after acquiring an additional 210 shares during the period. Advisory Alpha LLC grew its position in shares of Analog Devices by 46.2% in the 4th quarter. Advisory Alpha LLC now owns 1,288 shares of the semiconductor company's stock worth $274,000 after buying an additional 407 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Analog Devices by 2.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 105,784 shares of the semiconductor company's stock worth $22,475,000 after purchasing an additional 2,048 shares in the last quarter. Mutual Advisors LLC grew its stake in shares of Analog Devices by 8.6% during the fourth quarter. Mutual Advisors LLC now owns 2,060 shares of the semiconductor company's stock worth $443,000 after acquiring an additional 164 shares during the last quarter. Finally, Cerro Pacific Wealth Advisors LLC increased its stake in Analog Devices by 3.3% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 5,830 shares of the semiconductor company's stock valued at $1,342,000 after purchasing an additional 188 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.