Analog Devices, Inc. (NASDAQ:ADI) Receives Consensus Rating of “Buy” from Brokerages

Shares of Analog Devices, Inc. (NASDAQ:ADI) have been given an average recommendation of “Buy” by the twenty-nine analysts that are presently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $141.38.

A number of equities research analysts have recently commented on the company. Loop Capital raised their price target on Analog Devices from $136.00 to $156.00 and gave the stock a “buy” rating in a research report on Monday, November 30th. Summit Insights lowered Analog Devices from a “buy” rating to a “hold” rating in a research report on Tuesday, November 24th. The Goldman Sachs Group raised their price target on Analog Devices from $156.00 to $169.00 and gave the stock a “buy” rating in a research report on Monday, December 14th. Deutsche Bank Aktiengesellschaft raised their price target on Analog Devices from $142.00 to $150.00 and gave the stock a “hold” rating in a research report on Thursday, December 17th. Finally, BMO Capital Markets raised their price target on Analog Devices from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 25th.

Shares of ADI opened at $144.47 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43. Analog Devices has a 1 year low of $79.07 and a 1 year high of $146.31. The stock has a market cap of $53.38 billion, a P/E ratio of 44.05, a price-to-earnings-growth ratio of 2.09 and a beta of 1.32. The stock’s 50-day moving average price is $138.83 and its two-hundred day moving average price is $123.54.

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Analog Devices (NASDAQ:ADI) last issued its earnings results on Monday, November 23rd. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.12. Analog Devices had a return on equity of 15.51% and a net margin of 21.79%. During the same quarter in the previous year, the company earned $1.19 EPS. As a group, equities analysts forecast that Analog Devices will post 5.65 EPS for the current year.

In other news, CFO Prashanth Mahendra-Rajah sold 1,790 shares of Analog Devices stock in a transaction that occurred on Thursday, December 3rd. The stock was sold at an average price of $140.58, for a total transaction of $251,638.20. Following the completion of the transaction, the chief financial officer now directly owns 13,394 shares in the company, valued at approximately $1,882,928.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Gregory N. Henderson sold 3,519 shares of Analog Devices stock in a transaction that occurred on Friday, December 4th. The stock was sold at an average price of $141.92, for a total value of $499,416.48. Following the transaction, the senior vice president now owns 9,345 shares of the company’s stock, valued at $1,326,242.40. The disclosure for this sale can be found here. Insiders have sold a total of 48,618 shares of company stock worth $6,613,616 in the last ninety days. Insiders own 0.42% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ADI. BlackRock Inc. boosted its stake in Analog Devices by 10.6% in the 3rd quarter. BlackRock Inc. now owns 30,760,256 shares of the semiconductor company’s stock valued at $3,590,951,000 after purchasing an additional 2,946,683 shares during the period. JPMorgan Chase & Co. boosted its stake in Analog Devices by 19.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,039,376 shares of the semiconductor company’s stock valued at $3,037,493,000 after purchasing an additional 4,199,225 shares during the period. Neuberger Berman Group LLC boosted its stake in Analog Devices by 1.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 4,179,617 shares of the semiconductor company’s stock valued at $487,665,000 after purchasing an additional 73,905 shares during the period. Bank of New York Mellon Corp boosted its stake in Analog Devices by 10.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,221,723 shares of the semiconductor company’s stock valued at $395,112,000 after purchasing an additional 300,229 shares during the period. Finally, Alkeon Capital Management LLC boosted its stake in Analog Devices by 4.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,301,646 shares of the semiconductor company’s stock valued at $268,694,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 79.48% of the company’s stock.

About Analog Devices

Analog Devices, Inc designs, manufactures, and markets integrated circuits (ICs), algorithms, 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.

Read More: What is Cost of Goods Sold (COGS)?

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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