Analog Devices (NASDAQ:ADI) Earns “Overweight” Rating from Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Analog Devices (NASDAQ:ADI) in a report published on Thursday, Benzinga reports. The brokerage currently has a $212.00 price target on the semiconductor company’s stock.

ADI has been the subject of several other reports. KeyCorp boosted their target price on Analog Devices from $220.00 to $230.00 and gave the stock an overweight rating in a research note on Thursday, February 22nd. Cantor Fitzgerald reiterated a neutral rating and set a $205.00 target price on shares of Analog Devices in a research report on Monday, March 4th. Sanford C. Bernstein downgraded Analog Devices from an outperform rating to a market perform rating and set a $200.00 price target on the stock. in a research note on Thursday, January 4th. Edward Jones upgraded Analog Devices from a hold rating to a buy rating in a research note on Friday, December 22nd. Finally, Truist Financial lowered their target price on shares of Analog Devices from $226.00 to $222.00 and set a buy rating on the stock in a research report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $206.26.

Analog Devices Stock Performance

ADI opened at $192.27 on Thursday. The company has a market cap of $95.35 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 4.98 and a beta of 1.17. The firm’s fifty day simple moving average is $193.24 and its two-hundred day simple moving average is $186.14. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices has a 52-week low of $154.99 and a 52-week high of $204.20.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.75 earnings per share. Equities analysts anticipate that Analog Devices will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.91%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock valued at $4,825,113 over the last three months. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Several large investors have recently modified their holdings of ADI. Norges Bank acquired a new stake in shares of Analog Devices in the fourth quarter worth $1,040,194,000. Moneta Group Investment Advisors LLC boosted its holdings in 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. Massachusetts Financial Services Co. MA grew its position in Analog Devices by 22.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Analog Devices by 31.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,833,640 shares of the semiconductor company’s stock worth $1,356,888,000 after purchasing an additional 1,640,156 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Analog Devices by 236.6% during the second quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock valued at $450,446,000 after buying an additional 1,625,377 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

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.