Analog Devices (NASDAQ:ADI) has a Hold rating on Needham & Company LLC

Needham & Company LLC maintained a hold rating on the company’s shares Analog Devices (NASDAQ:ADI – Free Report) – according to Benzinga, in a research note published Thursday morning.

Many other equity market analysts have recently commented on the company. Bank of America raised their price target on Analog Devices from $225.00 to $260.00 and gave the stock a buy rating in a research report on Thursday. Cantor Fitzgerald increased their price target on Analog Devices from $205.00 to $240.00 and gave the company a Neutral rating in a research report on Wednesday, May 15th. On Monday, May 13, Jefferies Financial Group began covering analog devices in a research report. They set a Buy rating and $250.00 price target for the company. Stifel Nicolaus raised their price target on Analog Devices from $220.00 to $240.00 and gave the company a buy rating in a research report on Monday. Finally, Truist Financial lowered their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Seven investment analysts rated the company’s shares with a hold rating, and eighteen issued a buy rating. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $237.75.

Check out our latest stock analysis on ADI

Analog equipment inventory performance

ADI shares opened Thursday at $234.56. Analog Devices has a 12-month low of $154.99 and a 12-month high of $241.88. The company’s market capitalization is $116.32 billion, price-to-earnings ratio is 41.96, price-to-earnings growth ratio is 5.44 and beta is 1.14. The company has a 50-day simple moving average of $199.92 and a 200-day simple moving average of $193.03. The company has a debt to equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, which topped analysts’ consensus estimates of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period last year, the company saw an EPS of $2.83. On average, equity research analysts expect Analog Devices to post 5.85 EPS this year.

Dividend announcement for analog devices

Recently, the company also declared a quarterly dividend, which will be paid on Monday, June 17. Shareholders who hit record highs on Tuesday, June 4 will receive a dividend of $0.92. This represents a dividend of $3.68 on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Tuesday, June 4. Analog Devices’ dividend payout ratio (DPR) is currently 65.83%.

Insiders place their bets

In other Analog Devices news, CEO James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction amount of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares of the company’s stock valued at $1,259,164.44. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed via this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06 for a total value of $1,970,600.00. Following the completion of the sale, the CEO now owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The transaction was disclosed in a filing with the SEC, which can be accessed at this link. Additionally, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction amount of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. 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. Currently, insiders own 0.31% of the shares.

Institutional inflows and outflows

A number of hedge funds and other institutional investors have recently increased or decreased their holdings in this business. In the fourth quarter, Pinnacle Bancorp Inc. increased its stake in Analog Devices shares by 101.6%. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares in the last quarter. USA Financial Formulas increased its holdings in Analog Devices by 87.8% during the fourth quarter. After acquiring an additional 65 shares during the period, USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000. Cetera Trust Company NA purchased a new position in shares of Analog Devices during the 4th quarter worth $29,000. Private Wealth Management Group LLC acquired a new stake in shares of Analog Devices during the 4th quarter valued at $29,000. Finally, Riverview Trust Co bought a new stake in shares of Analog Devices during the first quarter worth $30,000. Institutional investors hold 86.81% of the company’s shares.

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.

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