Analog Devices (NASDAQ:ADI) price target increased to $220.00 by analysts at Sanford C. Bernstein

Analog Devices (NASDAQ:ADI – Free Report) on Thursday, a research note from Sanford C. Bernstein raised its price target from $200 to $220, according to Benzinga. Sanford C. Bernstein currently has a market rating on the semiconductor company’s stock.

Many other equity market analysts have also published reports on ADI. Oppenheimer increased their price target on Analog Devices from $215.00 to $245.00 and gave the company an Outperform rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. raised their price target on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial lowered their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Goldman Sachs Group increased their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, 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 note on Thursday. Seven investment analysts have rated the company’s stock with a hold rating and eighteen analysts have rated the company’s stock with a buy rating. Based on data from MarketBeat.com, Analog Devices currently has an average rating of Moderate Buy and a consensus price target of $237.75.

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Trading in analog devices decreases by 2.3%

On Thursday, NASDAQ ADI opened at $234.56. The company has a market capitalization of $116.32 billion, a P/E ratio of 41.96, a P/E/G ratio of 5.44 and a beta of 1.14. 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 50-day moving average is $199.92 and its 200-day moving average is $193.03. Analog Devices has a 1-year low of $154.99 and a 1-year high of $241.88.

Analog Devices ( NASDAQ:ADI – Get Free Report ) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, $0.14 above analyst consensus estimates of $1.26. 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 $2.16 billion, compared to analyst estimates of $2.11 billion. During the same quarter last year, the company earned $2.83 EPS. Analog Devices’ revenue for the quarter was down 33.8% compared to the same quarter last year. Sell-side analysts expect Analog Devices to 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. Stockholders of record on Tuesday, June 4 will receive a dividend of $0.92. This represents a dividend of $3.68 on an annualized basis and a yield of 1.57%. The ex-dividend date is Tuesday, June 4. Analog Devices’ dividend payout ratio is 65.83%.

Buying and selling confidential information in analog devices

In other Analog Devices 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 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 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 transaction was disclosed in a legal filing with the SEC, available on the SEC’s website. Additionally, CEO Vincent Roche sold 10,000 shares of the company’s stock on Monday, April 1. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following 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. Currently, corporate insiders own 0.31% of the shares.

Institutional trading in analog devices

Large investors have recently modified their holdings in stocks. 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 position in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in shares of Analog Devices during the third quarter valued at $29,000. Cetera Trust Company NA acquired a new stake in shares of Analog Devices during the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Analog Devices during the 4th quarter valued at $29,000. The owners of 86.81% of the shares are institutional investors and hedge funds.

Analog devices company profile

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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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