Analog Devices, Inc. (NASDAQ:ADI) has been assigned a consensus recommendation of “Buy” from the twenty-eight brokerages that are covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $143.46.
Several research analysts have weighed in on ADI shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on shares of Analog Devices from $134.00 to $155.00 in a report on Wednesday, November 25th. Raymond James raised their price target on shares of Analog Devices from $140.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 25th. Oppenheimer raised their price target on shares of Analog Devices from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 18th. BMO Capital Markets raised their price target on shares of Analog Devices from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 25th. Finally, Smith Barney Citigroup raised their price target on shares of Analog Devices from $134.00 to $155.00 in a research report on Wednesday, November 25th.
In other news, CFO Prashanth Mahendra-Rajah sold 3,625 shares of the business’s stock in a transaction on Friday, November 27th. The shares were sold at an average price of $138.41, for a total value of $501,736.25. Following the completion of the sale, the chief financial officer now directly owns 15,184 shares in the company, valued at $2,101,617.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Gregory N. Henderson sold 18,234 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $137.72, for a total transaction of $2,511,186.48. Following the completion of the sale, the senior vice president now owns 24,060 shares of the company’s stock, valued at $3,313,543.20. The disclosure for this sale can be found here. Insiders sold a total of 53,630 shares of company stock worth $7,376,998 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.
This plant based has investor interest surging.
Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Analog Devices by 19.2% during the third quarter. JPMorgan Chase & Co. now owns 26,039,376 shares of the semiconductor company’s stock worth $3,037,493,000 after acquiring an additional 4,199,225 shares during the period. BlackRock Inc. increased its position in Analog Devices by 10.6% during the third quarter. BlackRock Inc. now owns 30,760,256 shares of the semiconductor company’s stock worth $3,590,951,000 after acquiring an additional 2,946,683 shares during the period. Voloridge Investment Management LLC bought a new position in Analog Devices during the third quarter worth $62,497,000. Epoch Investment Partners Inc. increased its position in Analog Devices by 80.8% during the third quarter. Epoch Investment Partners Inc. now owns 1,156,787 shares of the semiconductor company’s stock worth $135,043,000 after acquiring an additional 517,050 shares during the period. Finally, Maplelane Capital LLC bought a new position in Analog Devices during the third quarter worth $50,199,000. Institutional investors and hedge funds own 91.90% of the company’s stock.
Shares of Analog Devices stock traded up $1.31 during trading hours on Tuesday, hitting $159.06. The company’s stock had a trading volume of 43,491 shares, compared to its average volume of 1,886,658. Analog Devices has a 1-year low of $79.07 and a 1-year high of $161.78. The business has a fifty day moving average of $146.10 and a 200 day moving average of $127.04. The company has a market capitalization of $58.77 billion, a PE ratio of 48.40, a P/E/G ratio of 2.26 and a beta of 1.31. The company has a quick ratio of 1.40, a current ratio of 1.84 and a debt-to-equity ratio of 0.43.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Monday, November 23rd. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.44 billion. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. During the same quarter in the prior year, the business earned $1.19 earnings per share. On average, sell-side analysts anticipate that Analog Devices will post 5.69 earnings per share for the current fiscal year.
About Analog Devices
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.
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