Bank of America analysts increased their price target for Analog Devices (NASDAQ:ADI) to $260.00

Analog Devices (NASDAQ:ADI – Free Report) Bank of America raised its price target from $225.00 to $260.00 in a research note issued to investors on Thursday, MarketBeat reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other brokerages have also recently published reports on ADI. Oppenheimer raised their price target on shares of Analog Devices from $215.00 to $245.00 and gave the company an outperform rating in a research report on Thursday, May 16th. On Monday, May 13, a research report from Jefferies Financial Group covered shares of Analog Devices. They set a Buy rating and $250.00 price target for the company. On Tuesday, April 16, Evercore ISI’s research report included stock in Analog Devices. They set an outperform rating and a $254.00 price target for the company. Stifel Nicolaus raised their price target on Analog Devices shares from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday. Finally, 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. 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, Analog Devices has a consensus rating of Moderate Buy and an average price target of $237.75.

Read our latest analysis for ADI

Trading in analog devices decreases by 2.3%

ADI shares opened Thursday at $234.56. 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 company has a fifty-day moving average price of $199.92 and a two-hundred-day moving average price of $193.03. Analog Devices has a 1-year low of $154.99 and a 1-year high of $241.88. The company’s stock has a market value of $116.32 billion, a price-to-earnings ratio of 41.96, a price-to-earnings growth ratio of 5.44, and a beta of 1.14.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported EPS of $1.40 for the quarter, $0.14 above analysts’ consensus estimates 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 for this quarter decreased by 33.8% compared to the same quarter last year. During the same period last year, the company reported earnings per share of $2.83. Stock analysts predict that Analog Devices will record 5.85 EPS for the current year.

Analog Devices announces dividend

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 of this dividend 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 (DPR) is currently 65.83%.

Confidential activity

In related news, 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 transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, available at this link. In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction that occurred 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 directly owns 6,371 shares of the company’s stock valued at $1,259,164.44. The transaction was disclosed in a document filed with the Securities and Exchange Commission, available at this link. Additionally, Vice President Vivek Jain sold 3,479 shares of the company’s 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 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 90 days, insiders have sold 24,707 shares of company stock worth $4,874,613. Currently, insiders own 0.31% of the shares.

Institutional investors are considering analog devices

Several hedge funds have recently made changes to their positions in ADI. MGO One Seven LLC increased its position in shares of Analog Devices by 14.6% during the 3rd quarter. MGO One Seven LLC now owns 2,865 shares of the semiconductor company’s stock valued at $502,000 after purchasing an additional 366 shares in the last quarter. Syon Capital LLC bought a new stake in Analog Devices during the 3rd quarter worth $498,000. NBC Securities Inc. purchased a new stake in Analog Devices during the third quarter worth $123,000. Pinnacle Financial Partners Inc increased its holdings in Analog Devices by 606.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 2,282 shares of the semiconductor company’s stock valued at $400,000 after acquiring an additional 1,959 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC increased its holdings in Analog Devices by 5.1% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,772 shares of the semiconductor company’s stock valued at $310,000 after acquiring an additional 86 shares in the last quarter. Currently, 86.81% of the shares are in the hands of institutional investors.

About analog devices

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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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