Analog Devices (NASDAQ:ADI) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Analog Devices (NASDAQ:ADI) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $250.00 target price on the semiconductor company’s stock.

ADI has been the subject of several other reports. Jefferies Financial Group assumed coverage on Analog Devices in a research report on Monday, May 13th. They set a buy rating and a $250.00 target price for the company. Needham & Company LLC reissued a hold rating on shares of Analog Devices in a research report on Thursday, May 23rd. The Goldman Sachs Group upped their price target on shares of Analog Devices from $205.00 to $252.00 and gave the company a buy rating in a research note on Thursday, May 23rd. Truist Financial lifted their target price on Analog Devices from $222.00 to $275.00 and gave the stock a buy rating in a report on Thursday, May 23rd. Finally, Oppenheimer upped their price target on shares of Analog Devices from $215.00 to $245.00 and gave the company an outperform rating in a research note on Thursday, May 16th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Analog Devices has an average rating of Moderate Buy and a consensus price target of $245.50.

Analog Devices Trading Down 3.3 %

Analog Devices stock opened at $231.22 on Tuesday. Analog Devices has a one year low of $154.99 and a one year high of $244.14. The company’s fifty day moving average price is $230.45 and its two-hundred day moving average price is $206.39. The company has a market capitalization of $114.74 billion, a price-to-earnings ratio of 54.02, a PEG ratio of 3.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates 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 was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.83 earnings per share. On average, analysts forecast that Analog Devices will post 6.24 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.59%. Analog Devices’s payout ratio is 85.98%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders have sold 46,642 shares of company stock valued at $10,481,343 in the last three months. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Analog Devices

Several large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Analog Devices during the fourth quarter worth about $1,225,227,000. Swedbank AB purchased a new position in shares of Analog Devices in the first quarter valued at $537,171,000. Vanguard Group Inc. increased its position in 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. Canada Pension Plan Investment Board increased its holdings in shares of Analog Devices by 17,535,360.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after buying an additional 1,753,536 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Analog Devices by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after buying an additional 1,330,242 shares in the last quarter. 86.81% of the stock is currently 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.