Analog Devices (NASDAQ:ADI) with new price target of $285.00 at KeyCorp

Analog Devices (NASDAQ:ADI – Free Report) KeyCorp raised their price target from $230.00 to $285.00 in a research note issued Thursday morning, Benzinga reports. The company currently has an overrated rating on the semiconductor company’s stock.

ADI has been the subject of several other research reports. Evercore ISI began coverage of Analog Devices stock on Tuesday, April 16. They set an outperform rating and $254.00 price target on the stock. Oppenheimer raised their price target on shares of Analog Devices from $215.00 to $245.00 and gave the stock an outperform rating in a research note on Thursday, May 16. 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. The Goldman Sachs Group raised their target price on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, Bank of America raised their price target on Analog Devices shares from $225.00 to $260.00 and gave the stock a buy rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and eighteen analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy on average and an average price target of $237.75.

Check out our latest report on analog devices

Analog equipment inventory performance

On Thursday, ADI opened at $234.56. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The company’s fifty-day moving average price is $199.92 and its two-hundred-day moving average price is $193.03. Analog Devices has a 1-year low of $154.99 and a 1-year high of $241.88. The company has a market capitalization 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 data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, which topped the consensus estimate 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 the consensus estimate of $2.11 billion. During the same quarter last year, the company reported earnings per share of $2.83. The company’s revenue declined 33.8% year-over-year. On average, analysts expect Analog Devices to report 5.85 EPS for the current fiscal 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. The ex-dividend date of this dividend is Tuesday, June 4. This represents a dividend of $3.68 on an annualized basis and a yield of 1.57%. Analog Devices’ dividend payout ratio is currently 65.83%.

Insiders place their bets

In other 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 directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The sale was disclosed in a legal filing filed with the Securities and Exchange Commission, available at this link. In other 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 directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The sale was disclosed in a legal filing filed with the Securities and Exchange Commission, available at this link. 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 $10,057,745.34. The announcement of this sale can be found here. In the last quarter, insiders sold 24,707 shares of company stock worth $4,874,613. Currently, company insiders own 0.31% of the shares.

Institutional investors are considering analog devices

A number of institutional investors and hedge funds have recently bought and sold shares of ADI. MGO One Seven LLC increased its holdings in Analog Devices by 14.6% during the third 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 acquired a new stake in Analog Devices during the third quarter worth approximately $498,000. NBC Securities Inc. acquired a new stake in Analog Devices during the third quarter worth approximately $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 purchasing 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 purchasing an additional 86 shares in the last quarter. 86.81% of the shares are held by hedge funds and other institutional investors.

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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