Analog Devices (NASDAQ:ADI) with a new price target of $270.00 at TD Cowen

Analog Devices (NASDAQ:ADI – Free Report) in a research report issued Thursday morning, TD Cowen raised their price target from $210.00 to $270.00, MarketBeat reports. They currently have a buy rating on the semiconductor company’s stock.

Many other stock market analysts also commented on the stock. Jefferies Financial Group initiated coverage on shares of Analog Devices on Monday, May 13th. They set a Buy rating and $250.00 price target on the stock. 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. KeyCorp raised their price target on shares of Analog Devices from $230.00 to $285.00 and gave the stock an outperform rating in a research report on Thursday. In a research report on Thursday, Needham & Company LLC maintained a hold rating on Analog Devices shares. Finally, Oppenheimer increased their price target on shares of Analog Devices from $215.00 to $245.00 and gave the company an outperform rating in a report on Thursday, May 16th. Seven investment analysts have rated the company with a hold rating and eighteen analysts have given a buy rating to the company. The stock currently has an average rating of “Moderate Buy” and an average price target of $237.75, according to MarketBeat data.

See our latest analysis for analog devices

Analog device stocks fell 2.3%

ADI shares opened Thursday at $234.56. The market capitalization of the company’s shares is $116.32 billion, the P/E ratio is 41.96, the P/E/G ratio is 5.44 and the 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 quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices has a 52-week low of $154.99 and a 52-week high of $241.88.

Analog Devices ( NASDAQ:ADI – Get Free Report ) last released its earnings results 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 quarterly revenues decreased by 33.8% year over year. In the same quarter last year, the company earned $2.83 per share. Stock analysts forecast that Analog Devices will post 5.85 earnings per share for the current fiscal 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. This represents an annual dividend of $3.68 and a yield of 1.57%. The ex-dividend date is Tuesday, June 4. Analog Devices’ payout ratio is currently 65.83%.

Buying and selling confidential information

In related 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 sale, 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 Analog Devices news, CEO 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 value of $242,701.92. Following the sale, 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 document filed with the SEC, which is available on the SEC’s website. Additionally, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction amount of $1,974,000.00. Following the completion of the sale, the CEO now directly owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The announcement of this sale can be found here. Over the last ninety days, insiders have sold a total of 24,707 shares of company stock worth $4,874,613. Company insiders own 0.31% of the company’s shares.

Institutional investors are considering analog devices

Recently, many large investors have modified their shares in the company. Amarillo National Bank increased its position in shares of Analog Devices by 3.7% during the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 54 shares in the last quarter. Mcdonald Partners LLC increased its holdings in shares of Analog Devices by 0.7% during the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock valued at $1,497,000 after purchasing an additional 54 shares in the last quarter. Keystone Financial Services increased its position in shares of Analog Devices by 1.8% during the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 55 shares in the last quarter. Ancora Advisors LLC increased its holdings in shares of Analog Devices by 2.1% during the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 57 shares in the last quarter. Finally, Legacy Advisors LLC increased its holdings in shares of Analog Devices by 2.3% during the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after purchasing an additional 59 shares in the last quarter. 86.81% of the shares are held by hedge funds and other 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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