Analog Devices (NASDAQ:ADI) Price Target Raised to $275.00 at Benchmark

Analog Devices (NASDAQ:ADI) had its target price lifted by Benchmark from $245.00 to $275.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

ADI has been the subject of a number of other research reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Piper Sandler cut their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Morgan Stanley cut their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Wells Fargo & Company began coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Finally, TD Cowen reduced their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $255.19.

Analog Devices Stock Performance

Shares of ADI opened at $243.82 on Thursday. Analog Devices has a 1 year low of $182.57 and a 1 year high of $247.10. The company’s 50 day simple moving average is $215.06 and its 200 day simple moving average is $219.97. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The company has a market capitalization of $120.96 billion, a price-to-earnings ratio of 74.11, a PEG ratio of 2.53 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. On average, sell-side analysts predict that Analog Devices will post 7.09 EPS for the current year.

Analog Devices announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.62%. Analog Devices’s payout ratio is 111.85%.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ADI. Bank of Hawaii boosted its stake in Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 48 shares during the period. MONECO Advisors LLC lifted its holdings in shares of Analog Devices by 2.8% in the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after purchasing an additional 50 shares in the last quarter. DT Investment Partners LLC boosted its position in shares of Analog Devices by 0.7% in the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after buying an additional 51 shares during the period. Midwest Professional Planners LTD. grew its holdings in shares of Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock valued at $1,975,000 after buying an additional 53 shares in the last quarter. Finally, Portland Global Advisors LLC grew its holdings in shares of 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 buying an additional 53 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other 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.