Analog Devices, Inc. (NASDAQ:ADI) saw an uptick in trading volume on Monday . 141,976 shares changed hands during trading, a decline of 95% from the previous session’s volume of 3,093,897 shares.The stock last traded at $172.22 and had previously closed at $166.64.
A number of brokerages recently weighed in on ADI. KeyCorp increased their price objective on shares of Analog Devices from $195.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 6th. Jefferies Financial Group raised their target price on shares of Analog Devices from $188.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. Bank of America raised their target price on shares of Analog Devices from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, June 25th. Stifel Nicolaus lifted their price objective on shares of Analog Devices from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, August 19th. Finally, Wells Fargo & Company assumed coverage on shares of Analog Devices in a report on Monday, July 26th. They issued an “equal weight” rating and a $170.00 target price for the company. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Analog Devices presently has an average rating of “Buy” and an average target price of $181.29.
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The stock has a market capitalization of $61.07 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.11. The company has a 50 day simple moving average of $166.85.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, August 17th. The semiconductor company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.71 billion. Analog Devices had a return on equity of 18.86% and a net margin of 26.15%. The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. Equities research analysts predict that Analog Devices, Inc. will post 6.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 8th. Investors of record on Friday, August 27th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.66%. The ex-dividend date is Thursday, August 26th. Analog Devices’s payout ratio is 56.21%.
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, June 1st. The stock was sold at an average price of $164.20, for a total value of $1,642,000.00. Following the completion of the sale, the chief executive officer now owns 29,428 shares in the company, valued at approximately $4,832,077.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 6,750 shares of Analog Devices stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $165.18, for a total value of $1,114,965.00. Following the completion of the sale, the chief financial officer now owns 21,912 shares of the company’s stock, valued at approximately $3,619,424.16. The disclosure for this sale can be found here. Insiders sold a total of 22,828 shares of company stock valued at $3,780,683 in the last three months. 0.91% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Scott & Selber Inc. acquired a new position in shares of Analog Devices in the 1st quarter valued at approximately $1,004,000. Live Oak Private Wealth LLC raised its position in shares of Analog Devices by 51.6% during the 1st quarter. Live Oak Private Wealth LLC now owns 6,499 shares of the semiconductor company’s stock valued at $1,008,000 after acquiring an additional 2,212 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Analog Devices during the 1st quarter valued at approximately $43,292,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Analog Devices by 5.0% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 129,398 shares of the semiconductor company’s stock valued at $22,277,000 after acquiring an additional 6,119 shares in the last quarter. Finally, Cidel Asset Management Inc. raised its position in shares of Analog Devices by 6.2% during the 1st quarter. Cidel Asset Management Inc. now owns 65,150 shares of the semiconductor company’s stock valued at $10,103,000 after acquiring an additional 3,810 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors.
Analog Devices Company Profile (NASDAQ:ADI)
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
Further Reading: Liquidity
