Analog Devices (NASDAQ:ADI) Coverage Initiated at Benchmark

Benchmark began coverage on shares of Analog Devices (NASDAQ:ADI) in a report issued on Friday morning, Marketbeat reports. The firm issued a buy rating and a $245.00 price objective on the semiconductor company’s stock.

A number of other research analysts have also issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Piper Sandler decreased their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Truist Financial lifted their target price on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $248.52.

Analog Devices Trading Up 2.5 %

ADI opened at $214.61 on Friday. Analog Devices has a 52 week low of $182.57 and a 52 week high of $244.14. The business has a fifty day simple moving average of $214.11 and a 200-day simple moving average of $219.80. The firm has a market cap of $106.47 billion, a P/E ratio of 65.23, a P/E/G ratio of 2.38 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the business posted $2.01 earnings per share. The company’s quarterly revenue was down 10.1% on a year-over-year basis. On average, equities analysts expect that Analog Devices will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several institutional investors have recently added to or reduced their stakes in ADI. Norges Bank acquired a new position in Analog Devices in the 4th quarter valued at about $1,755,958,000. Raymond James Financial Inc. acquired a new position in Analog Devices in the 4th quarter valued at about $833,386,000. Proficio Capital Partners LLC increased its position in Analog Devices by 22,005.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after acquiring an additional 3,059,349 shares during the period. Raymond James & Associates increased its position in Analog Devices by 153.6% in the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after acquiring an additional 1,422,054 shares during the period. Finally, Franklin Resources Inc. increased its position in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares during the period. Institutional investors and hedge funds 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.