Analog Devices (NASDAQ:ADI) Lowered to Hold at Truist Financial

Truist Financial lowered shares of Analog Devices (NASDAQ:ADI) from a buy rating to a hold rating in a research report released on Monday morning, MarketBeat Ratings reports. Truist Financial currently has $233.00 price objective on the semiconductor company’s stock, down from their previous price objective of $266.00.

ADI has been the topic of several other reports. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an overweight rating in a research report on Thursday, August 22nd. Oppenheimer reissued an outperform rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a neutral rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, July 16th. Needham & Company LLC reaffirmed a hold rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Barclays increased their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an equal weight rating in a research report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $249.80.

Analog Devices Stock Up 2.6 %

ADI stock opened at $232.46 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices has a twelve month low of $154.99 and a twelve month high of $244.14. The company’s 50 day moving average is $223.06 and its two-hundred day moving average is $216.92. The stock has a market cap of $115.41 billion, a P/E ratio of 53.19, a PEG ratio of 3.75 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.49 EPS. Research analysts expect that Analog Devices will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.58%. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The disclosure for this sale can be found here. Insiders have sold a total of 61,495 shares of company stock valued at $13,904,458 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Swedbank AB bought a new stake in shares of Analog Devices during the first quarter valued at approximately $537,171,000. Vanguard Group Inc. lifted its stake in shares of Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after acquiring an additional 1,753,536 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the period. Finally, M&G Plc acquired a new position in Analog Devices in the first quarter valued at about $181,232,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

About Analog Devices

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.