Analog Devices (NASDAQ:ADI) Receives “Overweight” Rating from Morgan Stanley

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.

TRADEMARK VIOLATION NOTICE: This story was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://www.dispatchtribunal.com/2017/12/07/analog-devices-inc-adi-price-target-raised-to-103-00-at-morgan-stanley.html.

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.

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

Receive News & Ratings for Analog Devices Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply