Citigroup analysts increased their price target on Analog Devices (NASDAQ:ADI) to $250.00

Analog Devices (NASDAQ:ADI – Free Report) Citigroup raised its price target from $220.00 to $250.00 in a research report issued Thursday morning, Benzinga reports. The company currently has a buy rating on the semiconductor company’s stock.

ADI has been the subject of several other reports. Barclays raised their price target on Analog Devices from $185.00 to $210.00 and gave the stock the same rating in a research report on Monday. On Tuesday, April 16, Evercore ISI began working on analog devices in a research report. They gave the company an outperform rating and a $254.00 price target. On Monday, May 13, Jefferies Financial Group began covering analog devices in a research report. They issued a Buy rating and a $250.00 price target for the company. Oppenheimer increased their price target on Analog Devices from $215.00 to $245.00 and gave the stock an outperform rating in a research report on Thursday, May 16. 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 report on Thursday. Seven investment analysts rated the company’s shares with a hold rating, and eighteen issued a buy rating. Based on data from MarketBeat, the consensus rating for the stock is “Moderate Buy” and the consensus price target is $237.75.

Get our latest stock analysis on ADI

Price performance of analog devices

ADI shares opened Thursday at $234.56. Analog Devices has a twelve month low of $154.99 and a twelve month high of $241.88. The market capitalization of the company’s stock is $116.32 billion, the price-to-earnings ratio is 41.96, the P/E/G ratio is 5.44 and the beta is 1.14. The stock has a fifty-day simple moving average of $199.92 and a two-hundred-day simple moving average of $193.03. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

Analog Devices ( NASDAQ:ADI – Get Free Report ) last released its earnings results 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. The company had revenue of $2.16 billion for the quarter, compared to analyst expectations of $2.11 billion. 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 down 33.8% compared to the same quarter last year. During the same period last year, the company earned $2.83 EPS. On average, analysts expect Analog Devices to post 5.85 EPS 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. Shareholders of record will receive a dividend of $0.92 on Tuesday, June 4. This represents a dividend of $3.68 on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Tuesday, June 4. Analog Devices’ dividend payout ratio is currently 65.83%.

Confidential activity

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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 sale, 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, which can be accessed at this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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 sale, 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, which can be accessed at this link. Additionally, Vice President 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 completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The announcement of this sale can be found here. Over the last three months, insiders sold 24,707 shares of company stock worth $4,874,613. Company insiders own 0.31% of the company’s shares.

Institutional trading in analog devices

A number of hedge funds have recently modified their holdings in ADI. Norges Bank acquired a new stake in shares of Analog Devices during the fourth quarter worth approximately $1,225,227,000. Swedbank AB acquired new shares in Analog Devices during the first quarter worth approximately USD 537,171,000. Massachusetts Financial Services Co. MA increased its holdings in Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after purchasing an additional 2,497,696 shares during the period. In the first quarter, Vanguard Group Inc. increased its shares in Analog Devices by 4.7%. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after purchasing an additional 1,753,536 shares during the period. Hedge funds and other institutional investors hold 86.81% of the company’s shares.

About analog devices

(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.

Further reading

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