Analog Devices (NASDAQ:ADI) had its price target hoisted by Piper Sandler from $190.00 to $210.00 in a research note published on Wednesday, The Fly reports. Piper Sandler currently has an overweight rating on the semiconductor company’s stock.
A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Analog Devices from a hold rating to a sell rating and set a $194.00 price target for the company. in a research note on Tuesday, November 9th. Truist Securities lifted their price objective on Analog Devices from $179.00 to $190.00 and gave the company a buy rating in a research report on Thursday, August 19th. Morgan Stanley initiated coverage on Analog Devices in a research report on Monday, September 13th. They set an equal weight rating and a $179.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Analog Devices from $170.00 to $185.00 and gave the company an equal weight rating in a research report on Tuesday. Finally, Jefferies Financial Group lifted their price objective on Analog Devices from $188.00 to $195.00 and gave the company a buy rating in a research report on Thursday, August 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $193.41.
Analog Devices stock opened at $182.47 on Wednesday. The business has a 50-day simple moving average of $175.94 and a two-hundred day simple moving average of $168.66. The company has a market cap of $67.19 billion, a P/E ratio of 39.93, a P/E/G ratio of 2.70 and a beta of 1.16. Analog Devices has a 52-week low of $134.96 and a 52-week high of $191.95. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 14th. Stockholders of record on Friday, December 3rd will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 2nd. Analog Devices’s dividend payout ratio is currently 60.39%.
Analog Devices declared that its board has authorized a stock buyback plan on Wednesday, August 25th that authorizes the company to buyback $8.50 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 13.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other Analog Devices news, Director Bruce R. Evans acquired 8,001 shares of the business’s stock in a transaction on Wednesday, October 6th. The shares were bought at an average price of $164.98 per share, with a total value of $1,320,004.98. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Tunc Doluca sold 1,000 shares of the stock in a transaction on Friday, November 19th. The stock was sold at an average price of $190.00, for a total value of $190,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,100 shares of company stock worth $5,382,960. Corporate insiders own 0.91% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Park National Corp OH lifted its stake in shares of Analog Devices by 4.8% during the 3rd quarter. Park National Corp OH now owns 141,653 shares of the semiconductor company’s stock worth $23,724,000 after purchasing an additional 6,463 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake 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 worth $22,277,000 after purchasing an additional 6,119 shares during the last quarter. AGF Investments Inc. lifted its stake in shares of Analog Devices by 47.0% during the 2nd quarter. AGF Investments Inc. now owns 193,531 shares of the semiconductor company’s stock worth $33,318,000 after purchasing an additional 61,914 shares during the last quarter. Cullinan Associates Inc. purchased a new stake in shares of Analog Devices during the 3rd quarter worth $6,810,000. Finally, Creative Planning lifted its stake in shares of Analog Devices by 6.9% during the 2nd quarter. Creative Planning now owns 28,724 shares of the semiconductor company’s stock worth $4,945,000 after purchasing an additional 1,847 shares during the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.
About Analog Devices
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.
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