Analog Devices (NASDAQ:ADI) Given New $200.00 Price Target at Citigroup

Analog Devices (NASDAQ:ADI – Get Rating) had its price objective reduced by Citigroup from $225.00 to $200.00 in a research report sent to investors on Thursday morning, The Fly reports.

A number of other research analysts also recently weighed in on ADI. Raymond James lifted their price target on Analog Devices from $200.00 to $225.00 and gave the company an outperform rating in a report on Thursday, February 16th. Bank of America lifted their price target on Analog Devices from $230.00 to $250.00 and gave the company a buy rating in a report on Tuesday, April 4th. Deutsche Bank Aktiengesellschaft lifted their price target on Analog Devices from $170.00 to $200.00 in a report on Thursday, February 16th. The Goldman Sachs Group lifted their price target on Analog Devices from $186.00 to $210.00 and gave the company a buy rating in a report on Thursday, February 16th. Finally, UBS Group lifted their price target on Analog Devices from $195.00 to $225.00 and gave the company a buy rating in a report on Thursday, February 16th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $208.17.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $172.39 on Thursday. The company has a quick ratio of 1.50, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $87.20 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.44 and a beta of 1.15. The stock’s fifty day simple moving average is $186.11 and its 200 day simple moving average is $176.80. Analog Devices has a 52-week low of $133.48 and a 52-week high of $198.24.

Analog Devices (NASDAQ:ADI – Get Rating) last issued its earnings results on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.08. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Analog Devices had a return on equity of 14.69% and a net margin of 27.27%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.40 EPS. As a group, sell-side analysts forecast that Analog Devices will post 10.65 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Monday, June 5th will be given a dividend of $0.86 per share. The ex-dividend date is Friday, June 2nd. This represents a $3.44 annualized dividend and a dividend yield of 2.00%. Analog Devices’s dividend payout ratio is presently 51.89%.

Insider Buying and Selling

In related news, Director James Champy sold 1,495 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total transaction of $277,232.80. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,181,438.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the transaction, the chief financial officer now directly owns 23,871 shares in the company, valued at $4,464,115.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Champy sold 1,495 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $185.44, for a total value of $277,232.80. Following the transaction, the director now owns 6,371 shares in the company, valued at $1,181,438.24. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Analog Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADI. Norges Bank bought a new position in Analog Devices during the fourth quarter valued at about $1,040,194,000. FMR LLC grew its stake in shares of Analog Devices by 72.8% in the 1st quarter. FMR LLC now owns 13,650,137 shares of the semiconductor company’s stock valued at $2,692,080,000 after purchasing an additional 5,748,969 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Analog Devices by 360.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 6,144,344 shares of the semiconductor company’s stock valued at $288,077,000 after purchasing an additional 4,810,035 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of Analog Devices by 101,479.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock valued at $674,482,000 after purchasing an additional 4,107,895 shares during the period. Finally, Proficio Capital Partners LLC grew its stake in shares of Analog Devices by 16,424.9% in the 1st quarter. Proficio Capital Partners LLC now owns 3,140,564 shares of the semiconductor company’s stock valued at $3,141,000 after purchasing an additional 3,121,559 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Analog Devices Company Profile

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.