Morgan Stanley reaffirmed their overweight rating on shares of Analog Devices (NASDAQ:ADI) in a research report report published on Wednesday, November 22nd, Marketbeat.com reports. Morgan Stanley currently has a $103.00 target price on the semiconductor company’s stock, up from their previous target price of $98.00.
Several other research analysts have also issued reports on ADI. Royal Bank Of Canada restated a buy rating and issued a $92.00 price target on shares of Analog Devices in a research report on Friday, August 4th. B. Riley reaffirmed a buy rating and issued a $110.00 price objective on shares of Analog Devices in a research note on Sunday, August 27th. BidaskClub lowered shares of Analog Devices from a hold rating to a sell rating in a research note on Saturday, August 5th. Stifel Nicolaus reaffirmed a buy rating and issued a $97.00 price objective on shares of Analog Devices in a research note on Monday, September 25th. Finally, Instinet raised shares of Analog Devices from a reduce rating to a neutral rating and raised their price objective for the stock from $72.50 to $80.00 in a research note on Thursday, August 31st. Eleven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Analog Devices presently has a consensus rating of Buy and a consensus target price of $96.04.
Analog Devices (NASDAQ:ADI) traded up $0.70 on Wednesday, hitting $86.11. The stock had a trading volume of 3,914,204 shares, compared to its average volume of 2,982,727. The company has a market capitalization of $31,740.00, a PE ratio of 18.13, a PEG ratio of 1.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.13 and a current ratio of 1.47. Analog Devices has a 52 week low of $71.00 and a 52 week high of $93.99.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.09. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was up 53.4% on a year-over-year basis. equities analysts forecast that Analog Devices will post 5.2 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, November 30th. Analog Devices’s dividend payout ratio (DPR) is currently 90.91%.
In related news, Director James Champy sold 5,000 shares of Analog Devices stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $87.00, for a total value of $435,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 100,000 shares of Analog Devices stock in a transaction on Monday, December 4th. The shares were sold at an average price of $85.17, for a total transaction of $8,517,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,256 shares of company stock valued at $18,796,594. 1.10% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Financial Group Inc. bought a new position in Analog Devices in the 2nd quarter worth $119,000. WFG Advisors LP raised its holdings in Analog Devices by 26.4% in the 2nd quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after acquiring an additional 330 shares during the period. Fieldpoint Private Securities LLC raised its holdings in Analog Devices by 91.6% in the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,475 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 705 shares during the period. Clear Perspective Advisors LLC raised its holdings in Analog Devices by 3,884.2% in the 3rd quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock worth $130,000 after acquiring an additional 1,476 shares during the period. Finally, NEXT Financial Group Inc raised its holdings in Analog Devices by 64.4% in the 3rd quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock worth $136,000 after acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 87.08% of the company’s stock.
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About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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