September 17, 2023 – First Affirmative Financial Network, an institutional investor, recently acquired a new stake in Analog Devices, Inc. (NASDAQ: ADI) during the second quarter of this year. According to the company’s disclosure with the Securities and Exchange Commission, they purchased 1,292 shares of ADI’s semiconductor stock at a value of approximately $252,000.
Several analysts have recently expressed their views on ADI shares. Truist Financial reduced their price target for Analog Devices from $251.00 to $213.00 in a report released on May 25th. Similarly, KeyCorp dropped their target price from $230.00 to $220.00 while maintaining an “overweight” rating on the stock. Citigroup also decreased their target price from $225.00 to $200.00 in a report published on May 25th. Raymond James lowered the company’s price target further from $225.00 to $200.00 and bestowed an “outperform” rating on September 24th.
On the other hand, UBS Group revised their target price upward for Analog Devices from $205.00 to $215.00 and offered a “buy” rating in a research report dated August 22nd. In total, eight equities research analysts have assigned a hold rating while sixteen have given a buy rating for ADI shares.
As per Bloomberg.com, there is currently a consensus rating of “Moderate Buy” for Analog Devices with an average target price set at $204.21.
On Friday, ADI shares opened at $178.14 in the stock market, boasting a market cap of about $88.77 billion alongside other vital figures such as a PE ratio of 24.20 and a beta value of 1.17 The debt-to-equity ratio stands at 0.18 while both the quick ratio and current ratio are 1.10 and 1.71, respectively. Over the past year, Analog Devices experienced a low of $133.48 and hit a high of $200.10.
Currently, the firm’s 50-day simple moving average is recorded at $185.76 while its two-hundred day simple moving average stands at $185.74.
The acquisition of ADI shares by First Affirmative Financial Network reflects their belief in the company’s potential for future growth and success in the semiconductor industry. With its various price target revisions and ratings from different analysts, investors are provided with a range of perspectives that can assist them in making informed decisions regarding ADI stock.
Disclaimer: This article is meant for informational purposes only and should not be regarded as financial advice or a recommendation to invest in Analog Devices, Inc. Please conduct thorough research and consult with a professional before making any investment decisions.
[bs_slider_forecast ticker=”PPC”]
Analog Devices (ADI) Makes Headlines with Stock Changes, Investor Activity, and Dividend Announcement
Analog Devices (ADI), a semiconductor company based in the United States, has seen several changes in its stock holdings and is making headlines for multiple reasons. One notable change involves hedge funds modifying their holdings of ADI stock. Professional Advisory Services Inc. increased its stake in Analog Devices by 9.5% during the second quarter, now owning 115,851 shares valued at $22,569,000. B.O.S.S. Retirement Advisors LLC also lifted its holdings in ADI by 9.3%, now owning 1,735 shares worth $338,000.
Another point of interest is the buying pattern observed among institutional investors and hedge funds when it comes to Analog Devices. Fragasso Group Inc., for example, purchased a new position during the second quarter worth around $202,000. Outlook Wealth Advisors LLC has also shown interest by increasing its holdings by 8.4% to own 4,456 shares valued at $868,000. Additionally, Legacy Private Trust Co. bought a new position during the same period worth approximately $403,000. These collective investments reflect that 85.55% of ADI’s stock is currently owned by institutional investors and hedge funds.
CEO Vincent Roche made headlines recently with his sale of 10,000 shares of Analog Devices stock on August 1st at an average price of $197.64 per share, totaling $1,976,400. Following this transaction, Roche now holds direct ownership of 70,713 shares valued at around $13,975,717.32.
Meanwhile, analysts have shared their opinions on ADI’s current standing as well as price targets for the future regarding the company’s stocks. Truist Financial reduced their price target from $251 to $213 on May 25th while Citigroup also decreased their target from $225 to $200 during the same period.
Analysts from KeyCorp dropped the target price from $230 to $220, with an “overweight” rating on the stock. Similarly, Raymond James lowered the target from $225 to $200 and assigned an “outperform” rating. However, UBS Group gave a more positive outlook by increasing their target price on Analog Devices from $205 to $215 and issuing a “buy” rating.
Currently, the consensus rating for ADI’s stock is labeled as “Moderate Buy,” according to Bloomberg.com. The average target price for ADI is estimated at $204.21.
In terms of financial performance, Analog Devices recently reported quarterly earnings results that fell short of analysts’ expectations. For the quarter ending August 23rd, ADI reported earnings per share (EPS) of $2.49 compared to the consensus estimate of $2.52 EPS. The company’s revenue for this period amounted to $3.08 billion while analysts predicted revenue of $3.10 billion.
Analog Devices managed a net margin of 29.23% and a return on equity of 15.20%. There was a decrease in quarterly revenue by 1.1% compared to the same quarter last year when they earned $2.52 EPS.
Looking ahead, analysts predict that for the current fiscal year, Analog Devices will post earnings per share of 10.12.
On top of all these occurrences surrounding Analog Devices, it also announced its most recent dividend during September 2023. Stockholders who were recorded as such on September 5th were paid a dividend of $0.86 per share on September 14th after trading ex-dividend on September 1st.This amounts to a total annualized dividend of $3..44 and contributes towards a dividend yield of approximately 1.& %.
Executives within Analog Devices have disclosed that their dividend payout ratio (DPR) currently stands at around 46.&%, indicating their commitment to rewarding stockholders with consistent dividend payments.
In conclusion, Analog Devices has been making waves lately due to changes in its stock holdings, the buying patterns of institutional investors and hedge funds, CEO Vincent Roche’s share sale, analyst reports on the company’s stocks, quarterly earnings that fell short of expectations, and the recent dividend payment announcement. All of these developments contribute to an ongoing intrigue surrounding the performance and future prospects of Analog Devices in the semiconductor industry.
