UBS Group Raises Analog Devices (NASDAQ:ADI) Price Target to $275.00

Analog Devices (NASDAQ:ADI) had its price target increased by UBS Group from $225.00 to $275.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

ADI has been the subject of a number of other reports. Susquehanna boosted their price target on shares of Analog Devices from $230.00 to $280.00 and gave the stock a positive rating in a research note on Thursday. Barclays boosted their price target on shares of Analog Devices from $185.00 to $210.00 and gave the stock an equal weight rating in a research note on Monday, May 20th. Morgan Stanley reissued an overweight rating and set a $212.00 price target on shares of Analog Devices in a research note on Thursday, April 11th. Oppenheimer boosted their price objective 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. Finally, KeyCorp boosted their price objective on shares of Analog Devices from $230.00 to $285.00 and gave the company an overweight rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $243.23.

Analog Devices Trading Down 0.9 %

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

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. Analog Devices’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.83 earnings per share. As a group, equities analysts expect that Analog Devices will post 5.93 earnings per share 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. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

Insiders Place Their Bets

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were 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 of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were 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 of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Large investors have recently modified their holdings of the stock. Pinnacle Bancorp Inc. raised its position in shares of Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares during the period. USA Financial Formulas raised its position in shares of Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares during the period. Silver Oak Securities Incorporated bought a new position in shares of Analog Devices in the third quarter valued at about $29,000. Cetera Trust Company N.A bought a new position in shares of Analog Devices in the fourth quarter valued at about $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Analog Devices in the fourth quarter valued at about $29,000. 86.81% of the stock is owned by institutional investors.

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.