Analog Devices (NASDAQ:ADI) Price Target Lowered to $220.00 at Piper Sandler

Analog Devices (NASDAQ:ADI) had its target price decreased by Piper Sandler from $235.00 to $220.00 in a research report sent to investors on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on the company. TD Cowen reduced their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Trading Down 0.9 %

Shares of ADI opened at $217.17 on Wednesday. Analog Devices has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The stock has a fifty day moving average of $224.64 and a two-hundred day moving average of $225.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The company has a market capitalization of $107.82 billion, a PE ratio of 65.22, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.69%. Analog Devices’s dividend payout ratio is presently 110.51%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the transaction, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. This trade represents a 18.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 110,000 shares of company stock worth $24,883,200. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Analog Devices

A number of institutional investors and hedge funds have recently modified their holdings of the business. Baader Bank Aktiengesellschaft grew its position in shares of Analog Devices by 3.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 43 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Analog Devices by 3.1% during the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after purchasing an additional 43 shares during the last quarter. CVA Family Office LLC raised its position in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in shares of Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 48 shares during the last quarter. Finally, Quotient Wealth Partners LLC boosted its position in Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after purchasing an additional 48 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.