Analog Devices (NASDAQ:ADI) Price Target Raised to $252.00 at Goldman Sachs Group

Analog Devices (NASDAQ:ADI – Free Report) The Goldman Sachs Group increased their price target from $205.00 to $252.00 in a research note issued Thursday morning, according to Benzinga. They currently have a buy rating on the semiconductor company’s stock.

Several other research firms have also recently commented on ADI. 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. 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 report on Thursday. Susquehanna raised their price target on shares of Analog Devices from $230.00 to $280.00 and gave the stock a positive rating in a report on Thursday. 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 report on Thursday. Finally, in a report on Thursday, Needham & Company LLC maintained a hold rating on shares of Analog Devices. Seven equity analysts rated the company’s shares with a hold rating, and eighteen issued a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $237.75.

Get our latest analysis on ADI

Trading in analog devices decreases by 2.3%

On Thursday, NASDAQ ADI opened at $234.56. The company’s 50-day moving average price is $199.92 and its two-hundred-day moving average price is $193.03. The company has a debt to equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. Analog Devices has a twelve month low of $154.99 and a twelve month high of $241.88. The stock has a market value of $116.32 billion, a price-to-earnings ratio of 41.96, a PEG 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 EPS of $1.40 for the quarter, $0.14 above the consensus estimate of $1.26. 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 expectations of $2.11 billion. During the same period last year, the company saw an EPS of $2.83. Analog Devices revenues declined 33.8% year-over-year. Stock analysts predict that Analog Devices will record 5.85 EPS for the current year.

Analog Devices announces dividend

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 per share. This represents a dividend of $3.68 on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, June 4. Analog Devices’ dividend payout ratio is currently 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 on Wednesday, May 1st. The shares were sold at an average price of $197.06 for a total value of $1,970,600.00. Following the sale, the CEO now owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The transaction was disclosed in a legal filing filed with the Securities and Exchange Commission, which can be accessed via this hyperlink. In related news, VP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares of the company’s stock valued at $1,134,982.20. The transaction was disclosed in a legal filing filed with the Securities and Exchange Commission, which can be accessed via this hyperlink. Additionally, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction amount of $1,970,600.00. Following the completion of the sale, the CEO now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The announcement of this sale can be found here. In the last quarter, insiders sold a total of 24,707 shares of company stock worth $4,874,613. 0.31% of the shares are owned by company insiders.

Institutional trading in analog devices

Institutional investors and hedge funds have recently increased or decreased their stakes in the business. In the fourth quarter, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Analog Devices by 4.3%. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after purchasing an additional 21,522 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in shares of Analog Devices during the fourth quarter worth approximately $1,152,000. Sequoia Financial Advisors LLC increased its holdings in Analog Devices by 107.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after purchasing an additional 6,564 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Analog Devices by 37.5% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after purchasing an additional 2,215 shares in the last quarter. Finally, in the fourth quarter, Daiwa Securities Group Inc. increased its shares in Analog Devices by 4.7%. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after purchasing an additional 4,516 shares in the last quarter. Institutional investors hold 86.81% of the company’s shares.

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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