Analog Devices (NASDAQ:ADI) PT Lowered to $180.00

Analog Devices (NASDAQ:ADI) had its price objective reduced by Barclays from $195.00 to $180.00 in a research note issued to investors on Wednesday morning, Price Targets.com reports. They currently have an overweight rating on the semiconductor company’s stock.

Several other brokerages have also recently issued reports on ADI. Raymond James boosted their price objective on shares of Analog Devices from $185.00 to $210.00 and gave the company an outperform rating in a research note on Wednesday, November 24th. Truist Securities boosted their price objective on shares of Analog Devices from $192.00 to $204.00 and gave the company a buy rating in a research note on Wednesday, November 24th. JPMorgan Chase & Co. upgraded shares of Analog Devices from a neutral rating to an overweight rating and boosted their target price for the stock from $119.00 to $215.00 in a research report on Monday, September 20th. Wells Fargo & Company boosted their target price on shares of Analog Devices from $170.00 to $185.00 and gave the stock an equal weight rating in a research report on Tuesday, November 23rd. Finally, Morgan Stanley boosted their target price on shares of Analog Devices from $179.00 to $194.00 and gave the stock an equal weight rating in a research report on Wednesday, November 24th. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices has a consensus rating of Buy and an average price target of $199.74.

Shares of Analog Devices stock opened at $172.00 on Wednesday. The firm’s fifty day simple moving average is $178.62 and its 200-day simple moving average is $172.47. The stock has a market capitalization of $63.33 billion, a price-to-earnings ratio of 46.61, a PEG ratio of 1.88 and a beta of 1.11. Analog Devices has a 12 month low of $142.25 and a 12 month high of $191.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.94 and a quick ratio of 1.51.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 23rd. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.03. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Analog Devices had a net margin of 19.00% and a return on equity of 13.92%. Analog Devices’s revenue was up 53.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 EPS. Analysts anticipate that Analog Devices will post 7.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 14th. Shareholders of record on Friday, December 3rd were issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, December 2nd. This represents a $2.76 dividend on an annualized basis and a yield of 1.60%. Analog Devices’s dividend payout ratio (DPR) is 74.80%.

In other Analog Devices news, Director Tunc Doluca sold 7,000 shares of the stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $173.18, for a total value of $1,212,260.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 8,536 shares of the stock in a transaction that occurred on Wednesday, December 1st. The shares were sold at an average price of $182.41, for a total transaction of $1,557,051.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,636 shares of company stock valued at $5,259,112. Corporate insiders own 0.91% of the company’s stock.

Large investors have recently modified their holdings of the business. Knowledge Leaders Capital LLC boosted its stake in shares of Analog Devices by 1.2% during the 3rd quarter. Knowledge Leaders Capital LLC now owns 4,704 shares of the semiconductor company’s stock valued at $788,000 after buying an additional 56 shares during the last quarter. Claro Advisors LLC boosted its stake in shares of Analog Devices by 4.0% during the 2nd quarter. Claro Advisors LLC now owns 1,603 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 61 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Analog Devices by 2.6% during the 3rd quarter. Integrated Investment Consultants LLC now owns 2,433 shares of the semiconductor company’s stock valued at $407,000 after buying an additional 61 shares during the last quarter. Midwest Professional Planners LTD. boosted its stake in shares of Analog Devices by 1.4% during the 3rd quarter. Midwest Professional Planners LTD. now owns 4,502 shares of the semiconductor company’s stock valued at $754,000 after buying an additional 62 shares during the last quarter. Finally, Retirement Group LLC boosted its stake in shares of Analog Devices by 5.5% during the 3rd quarter. Retirement Group LLC now owns 1,209 shares of the semiconductor company’s stock valued at $203,000 after buying an additional 63 shares during the last quarter. 99.40% of the stock is owned by institutional investors.

About Analog Devices

Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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