Analog Devices (NASDAQ:ADI) has a new price target of $260.00 at Morgan Stanley

Analog Devices (NASDAQ:ADI – Free Report) Morgan Stanley raised its price target from $221.00 to $260.00 in a report Thursday morning, Benzinga reports. Morgan Stanley currently has an over rating on the semiconductor company’s stock.

ADI has been the subject of several other reports. In a report on Thursday, Needham & Company LLC maintained a hold rating on Analog Devices shares. Barclays increased their price target on Analog Devices shares from $185.00 to $210.00 and gave the company the same rating in a research note on Monday. TD Cowen raised their price target on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group began covering shares of Analog Devices in a research note on Monday, May 13th. They set a Buy rating and $250.00 price target for the company. Finally, Truist Financial raised their price target on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. Seven equity analysts have rated the company with a hold rating and eighteen have given the company a buy rating. Based on data from MarketBeat, the consensus rating for the company’s stock is “Moderate Buy” and the average price target is $237.75.

Get our latest stock analysis on ADI

Trading in analog devices decreases by 2.3%

On Thursday, Analog Devices shares closed at $234.56. 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. The stock’s market capitalization is $116.32 billion, its PE ratio is 41.96, its price-to-earnings-growth ratio is 5.44, and its beta is 1.14. Analog Devices has a 12-month low of $154.99 and a 12-month high of $241.88.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported earnings per share (EPS) of $1.40 for the quarter, $0.14 above the consensus estimate of $1.26. The company had revenue of $2.16 billion for the quarter, compared to analyst expectations of $2.11 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue declined 33.8% year-over-year. During the same period last year, the company reported earnings per share of $2.83. As a group, equity research analysts expect Analog Devices to post 5.85 EPS for the current fiscal year.

Dividend announcement for analog devices

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

Confidential transactions in analog devices

In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on 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 transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed at this link. Additionally, Director James Champy sold 1,228 shares of the company’s stock on 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 transaction, the director now owns 6,371 shares of the company’s stock valued at $1,259,164.44. The announcement of this sale can be found here. Over the last 90 days, insiders have sold a total of 24,707 shares of company stock worth $4,874,613. 0.31% of shares are owned by insiders.

Institutional inflows and outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Analog Devices during the fourth quarter worth $1,225,227,000. Swedbank AB bought new shares in Analog Devices during the first quarter worth USD 537,171,000. Massachusetts Financial Services Co. MA increased its holdings in Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after purchasing an additional 2,497,696 shares during the period. Vanguard Group Inc. increased its exposure to Analog Devices by 4.7% in the first quarter. 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 during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after purchasing an additional 1,753,536 shares during the period. 86.81% of the shares are currently owned by institutional investors and hedge funds.

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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