Research analysts at Needham & Company LLC assumed coverage on shares of Analog Devices (NASDAQ:ADI) in a research note issued on Thursday, The Fly reports. The firm set a “buy” rating and a $195.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price target points to a potential upside of 19.17% from the company’s previous close.
A number of other research analysts also recently issued reports on ADI. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Analog Devices from $160.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, May 20th. Truist Securities dropped their price target on shares of Analog Devices from $183.00 to $179.00 and set a “buy” rating on the stock in a research report on Thursday, May 20th. Finally, Sanford C. Bernstein upgraded shares of Analog Devices from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $165.00 to $185.00 in a research report on Thursday, May 20th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Analog Devices currently has a consensus rating of “Buy” and an average target price of $168.39.
NASDAQ:ADI opened at $163.63 on Thursday. The stock’s 50 day simple moving average is $159.27. The company has a current ratio of 1.05, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. Analog Devices has a one year low of $110.47 and a one year high of $168.93. The firm has a market cap of $60.35 billion, a P/E ratio of 39.05, a PEG ratio of 2.11 and a beta of 1.25.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, May 18th. The semiconductor company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.45 by $0.09. Analog Devices had a net margin of 25.16% and a return on equity of 17.91%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the company earned $1.08 EPS. The firm’s revenue was up 26.1% compared to the same quarter last year. On average, equities analysts predict that Analog Devices will post 6.27 earnings per share for the current fiscal year.
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In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $157.38, for a total transaction of $1,573,800.00. Following the sale, the chief executive officer now directly owns 37,598 shares of the company’s stock, valued at $5,917,173.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Gregory N. Henderson sold 6,078 shares of the company’s stock in a transaction dated Tuesday, June 15th. The shares were sold at an average price of $168.43, for a total transaction of $1,023,717.54. Following the sale, the senior vice president now directly owns 11,925 shares in the company, valued at $2,008,527.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,655 shares of company stock valued at $8,668,021. 0.91% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADI. CVA Family Office LLC purchased a new stake in shares of Analog Devices in the first quarter worth about $26,000. Ameritas Investment Company LLC purchased a new stake in shares of Analog Devices in the first quarter worth about $27,000. Northwest Investment Counselors LLC purchased a new stake in shares of Analog Devices in the first quarter worth about $30,000. Meridian Wealth Partners LLC purchased a new stake in shares of Analog Devices in the first quarter worth about $34,000. Finally, Newfound Research LLC purchased a new stake in shares of Analog Devices in the first quarter worth about $39,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.
Analog Devices Company Profile
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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