Susquehanna analysts increased their price target on Analog Devices (NASDAQ:ADI) to $280.00

Analog Devices (NASDAQ:ADI – Free Report) in a report issued Thursday morning, Susquehanna raised its price target from $230.00 to $280.00, Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

Several other brokerages also commented on ADI. Sanford C. Bernstein raised their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock a market perform rating in a research report on Thursday. Stifel Nicolaus raised their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock a buy rating in a research report on Monday. Truist Financial lowered their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. 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 on the stock. Finally, KeyCorp raised their price target on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overperform” rating in a research report on Thursday. Seven equity analysts rated the company’s shares with a hold rating, and eighteen issued a buy rating. Based on data from MarketBeat, Analog Devices currently has a consensus rating of Buy on average and an average price target of $237.75.

Check out our latest report on ADI

Trading in analog devices decreases by 2.3%

Shares of Analog Devices opened at $234.56 on Thursday. Analog Devices has a 52-week low of $154.99 and a 52-week high of $241.88. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The company’s 50-day simple moving average is $199.92 and its 200-day simple moving average is $193.03. The company has a market capitalization 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 results 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. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue for the quarter was $2.16 billion, compared to analyst estimates of $2.11 billion. During the same period last year, the company reported earnings per share of $2.83. The company’s revenues decreased by 33.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Analog Devices will post 5.85 earnings per share for the current 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 dividend yield of 1.57%. The ex-dividend date is Tuesday, June 4. Analog Devices’ payout ratio is 65.83%.

Confidential activity at Analog Devices

In related news, 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 transaction, the CEO now owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The sale was disclosed in a document filed with the Securities and Exchange Commission, available at this link. In other Analog Devices news, 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 transaction, the CEO now owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The transaction was disclosed in a legal filing with the SEC, available on the SEC’s website. Additionally, 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 approximately $1,259,164.44. 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. Company insiders own 0.31% of the company’s shares.

Hedge funds weigh on analog devices

Recently, ADI shares have been bought and sold by many large investors. Atria Investments Inc increased its position in shares of Analog Devices by 0.4% during the first quarter. Atria Investments Inc now owns 36,143 shares of the semiconductor company’s stock worth $7,149,000 after acquiring an additional 149 shares in the last quarter. Swedbank AB acquired a new stake in shares of Analog Devices during the first quarter worth USD 537,171,000. Wahed Invest LLC increased its position in shares of Analog Devices by 15.8% during the first quarter. Wahed Invest LLC now owns 9,851 shares of the semiconductor company’s stock valued at $1,948,000 after acquiring an additional 1,344 shares in the last quarter. New Covenant Trust Company NA acquired a new stake in shares of Analog Devices during the first quarter valued at $40,000. Finally, Plato Investment Management Ltd increased its position in shares of Analog Devices by 892.4% during the first quarter. Plato Investment Management Ltd now owns 12,643 shares of the semiconductor company’s stock valued at $2,501,000 after acquiring an additional 11,369 shares in the last quarter. Hedge funds and other 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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