Analog Devices (NASDAQ:ADI) Price Target Raised to $300.00 at JPMorgan Chase & Co.

Analog Devices (NASDAQ:ADI) had its price target increased by JPMorgan Chase & Co. from $280.00 to $300.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

A number of other research firms have also recently commented on ADI. Piper Sandler decreased their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. TD Cowen decreased their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Wells Fargo & Company boosted their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday. Truist Financial upped their price target on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Finally, Benchmark lifted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.19.

Analog Devices Trading Up 0.9 %

Shares of NASDAQ ADI opened at $243.82 on Thursday. Analog Devices has a 1-year low of $182.57 and a 1-year high of $247.10. The business has a fifty day moving average price of $215.06 and a 200 day moving average price of $219.97. The stock has a market capitalization of $120.96 billion, a P/E ratio of 74.11, a price-to-earnings-growth ratio of 2.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the firm posted $1.73 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts expect that Analog Devices will post 7.09 EPS for the current fiscal year.

Analog Devices announced that its board has approved a stock buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.62%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s payout ratio is 111.85%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds have recently bought and sold shares of ADI. Charles Schwab Investment Management Inc. grew its position in shares of Analog Devices by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares during the period. Swiss National Bank lifted its stake in Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after buying an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after buying an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp purchased a new stake in Analog Devices during the 4th quarter worth approximately $460,000. Finally, Summit Global Investments acquired a new position in shares of Analog Devices during the third quarter valued at approximately $867,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

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.