Truist Financial analysts increased their price target for Analog Devices (NASDAQ:ADI) to $275.00

Analog Devices (NASDAQ:ADI – Free Report) Truist Financial raised its price target from $222.00 to $275.00 in a research note issued on Thursday, Benzinga reports. The company currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also recently commented on the company. Sanford C. Bernstein raised their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock a market perform rating in a research note on Thursday. JPMorgan Chase & Co. raised their price target on Analog Devices shares from $220.00 to $260.00 and gave the stock an outperform rating in a research note on Thursday. Barclays raised their price target on Analog Devices from $185.00 to $210.00 and gave the stock the same rating in a research note on Monday. Susquehanna raised their price target on Analog Devices from $230.00 to $280.00 and gave the stock a positive rating in a research note on Thursday. Finally, Goldman Sachs Group increased their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” in a research note on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and eighteen analysts have rated the stock with a buy rating. According to MarketBeat.com, the company currently has a Moderate Buy consensus rating and an average price target of $237.75.

Check out our latest analysis for ADI

Analog device stocks fell 2.3%

ADI shares opened Thursday at $234.56. The company has a debt to equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The company has a market capitalization of $116.32 billion, a price-to-earnings ratio of 41.96, a PEG ratio of 5.44 and a beta of 1.14. Analog Devices has a fifty-two week low of $154.99 and a fifty-two week high of $241.88. The stock has a fifty-day moving average of $199.92 and a 200-day moving average of $193.03.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, which topped the consensus estimate of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company’s quarterly revenue dropped 33.8% compared to the same quarter last year. In the same quarter last year, the company earned $2.83 per share. As a group, equity research analysts expect Analog Devices to post 5.85 earnings per share for the current year.

Dividend announcement for analog devices

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Investors of record will receive a dividend of $0.92 per share on Tuesday, June 4. The ex-dividend date is Tuesday, June 4. This represents a dividend of $3.68 on an annualized basis and a dividend yield of 1.57%. Analog Devices’ dividend payout ratio is 65.83%.

Confidential activity 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 Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the transaction, the CEO now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The sale was disclosed in a letter filed with the Securities and Exchange Commission, which is available on the SEC’s website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the transaction, the CEO now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The sale was disclosed in a letter filed with the Securities and Exchange Commission, which is available on the SEC’s website. Additionally, Vice President Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock valued at $1,134,982.20. The announcement of this sale can be found here. Over the last three months, insiders sold 24,707 shares of company stock worth $4,874,613. Corporate insiders own 0.31% of the company’s shares.

Institutional investors are considering analog devices

Many large investors have recently changed their positions in the company. In the first quarter, Vanguard Group Inc. increased its position in Analog Devices shares by 4.7%. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Analog Devices by 8.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after purchasing an additional 1,197,215 shares in the last quarter. Invesco Ltd. increased its position in shares of Analog Devices by 7.5% in the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after purchasing an additional 701,367 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $1,225,227,000. Currently, 86.81% of the shares are in the hands of institutional investors.

Analog devices company profile

(Get the free report)

Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

Further reading

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