Susquehanna Boosts Analog Devices (NASDAQ:ADI) Price Target to $280.00

Analog Devices (NASDAQ:ADI) had its target price increased by Susquehanna from $230.00 to $280.00 in a research note released on Thursday morning, Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

A number of other equities analysts have also recently weighed in on ADI. Cantor Fitzgerald raised their price objective on Analog Devices from $205.00 to $240.00 and gave the company a neutral rating in a report on Wednesday, May 15th. Stifel Nicolaus raised their price objective on Analog Devices from $220.00 to $240.00 and gave the company a buy rating in a report on Monday, May 20th. TD Cowen raised their price target on Analog Devices from $210.00 to $270.00 and gave the stock a buy rating in a research report on Thursday. Oppenheimer raised 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 16th. Finally, Truist Financial reduced their price target 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. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $243.23.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $232.51 on Thursday. The stock has a market cap of $115.38 billion, a price-to-earnings ratio of 54.32, a P/E/G ratio of 5.82 and a beta of 1.14. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Analog Devices has a 1-year low of $154.99 and a 1-year high of $241.88. The stock’s 50-day moving average is $200.67 and its 200 day moving average is $193.66.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. Analog Devices’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period last year, the firm posted $2.83 EPS. On average, sell-side analysts anticipate that Analog Devices will post 5.93 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.58%. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Activity at Analog Devices

In related news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 over the last ninety days. 0.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Analog Devices by 8.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after purchasing an additional 1,197,215 shares during the last quarter. Invesco Ltd. raised its stake in shares of Analog Devices by 7.5% in the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after purchasing an additional 701,367 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Analog Devices in the fourth quarter worth $1,225,227,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.