Analog Devices (NASDAQ:ADI) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Analog Devices (NASDAQ:ADI) in a research report sent to investors on Thursday morning, Benzinga reports.

A number of other research firms have also recently weighed in on ADI. Jefferies Financial Group initiated coverage on Analog Devices in a research report on Monday, May 13th. They set a buy rating and a $250.00 price objective on the stock. Morgan Stanley reaffirmed an overweight rating and set a $212.00 price objective on shares of Analog Devices in a research report on Thursday, April 11th. Bank of America boosted their price target on Analog Devices from $225.00 to $260.00 and gave the stock a buy rating in a report on Thursday. Cantor Fitzgerald boosted their price target on Analog Devices from $205.00 to $240.00 and gave the stock a neutral rating in a report on Wednesday, May 15th. Finally, Truist Financial lowered their price target on Analog Devices from $226.00 to $222.00 and set a buy rating on the stock in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $243.23.

Analog Devices Stock Down 0.9 %

ADI stock opened at $232.51 on Thursday. Analog Devices has a twelve month low of $154.99 and a twelve month high of $241.88. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The stock has a market cap of $115.38 billion, a P/E ratio of 54.32, a PEG ratio of 5.77 and a beta of 1.14. The business’s 50-day moving average price is $200.67 and its 200-day moving average price is $193.84.

Analog Devices (NASDAQ:ADI) last posted 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. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the firm earned $2.83 EPS. The business’s quarterly revenue was down 33.8% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices will post 6.16 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders 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 dividend yield of 1.58%. The ex-dividend date is Tuesday, June 4th. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Activity

In other news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a 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 shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Analog Devices

Hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Analog Devices by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after acquiring an additional 21,522 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in shares of Analog Devices in the 4th quarter worth $1,152,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Analog Devices by 107.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock worth $2,515,000 after buying an additional 6,564 shares during the period. Prime Capital Investment Advisors LLC lifted its holdings in shares of Analog Devices by 37.5% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock worth $1,612,000 after buying an additional 2,215 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Analog Devices by 4.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after buying an additional 4,516 shares during the period. 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.