Analog Devices’ (ADI) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Analog Devices (NASDAQ:ADI) in a research report released on Wednesday,Benzinga reports.

A number of other analysts have also issued reports on ADI. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Morgan Stanley upped their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.33.

Analog Devices Price Performance

ADI opened at $218.05 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $224.14 and a 200 day simple moving average of $225.86. The firm has a market cap of $108.22 billion, a price-to-earnings ratio of 66.28, a PEG ratio of 3.35 and a beta of 1.08. Analog Devices has a twelve month low of $179.63 and a twelve month high of $244.14.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the transaction, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. The trade was a 18.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock worth $24,883,200. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Analog Devices

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the 3rd quarter worth approximately $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices during the second quarter worth approximately $29,000. Archer Investment Corp grew its stake in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. Finally, CVA Family Office LLC boosted its position in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Company Profile

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.