Analog Devices (NASDAQ:ADI) had its price objective boosted by analysts at Stifel Nicolaus from $180.00 to $185.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 11.34% from the stock’s current price.
A number of other equities analysts also recently issued reports on the company. Needham & Company LLC assumed coverage on Analog Devices in a research note on Thursday, June 24th. They issued a “buy” rating and a $195.00 price target on the stock. KeyCorp raised their price target on Analog Devices from $195.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 6th. Bank of America raised their price target on Analog Devices from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, June 25th. Sanford C. Bernstein upgraded Analog Devices from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $165.00 to $185.00 in a research note on Thursday, May 20th. Finally, Truist Securities lowered their target price on Analog Devices from $183.00 to $179.00 and set a “buy” rating on the stock in a research report on Thursday, May 20th. Two analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Analog Devices currently has an average rating of “Buy” and an average target price of $175.39.
ADI stock opened at $166.16 on Thursday. Analog Devices has a twelve month low of $110.47 and a twelve month high of $172.45. The company has a current ratio of 1.05, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The company has a market cap of $61.28 billion, a price-to-earnings ratio of 39.66, a PEG ratio of 2.17 and a beta of 1.25. The company’s 50 day moving average is $162.77.
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Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, May 18th. The semiconductor company reported $1.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.09. Analog Devices had a return on equity of 17.91% and a net margin of 25.16%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. On average, equities research analysts predict that Analog Devices will post 6.28 earnings per share for the current year.
In related news, SVP Gregory N. Henderson sold 6,078 shares of the business’s stock in a transaction that occurred on Tuesday, June 15th. The stock was sold at an average price of $168.43, for a total value of $1,023,717.54. Following the completion of the sale, the senior vice president now owns 11,925 shares in the company, valued at $2,008,527.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 1st. The shares were sold at an average price of $164.20, for a total value of $1,642,000.00. Following the completion of the sale, the chief executive officer now owns 29,428 shares of the company’s stock, valued at approximately $4,832,077.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,828 shares of company stock valued at $3,780,683. 0.91% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of ADI. Norges Bank acquired a new position in shares of Analog Devices during the fourth quarter worth $574,864,000. Price T Rowe Associates Inc. MD increased its position in shares of Analog Devices by 68.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,345,668 shares of the semiconductor company’s stock worth $641,986,000 after purchasing an additional 1,761,299 shares in the last quarter. Theleme Partners LLP acquired a new position in shares of Analog Devices in the 1st quarter valued at $178,032,000. Amundi Asset Management US Inc. increased its position in shares of Analog Devices by 29.0% in the 1st quarter. Amundi Asset Management US Inc. now owns 3,897,467 shares of the semiconductor company’s stock valued at $604,419,000 after acquiring an additional 875,666 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its position in shares of Analog Devices by 35.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,021,801 shares of the semiconductor company’s stock valued at $446,410,000 after acquiring an additional 795,033 shares during the period. 95.93% 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 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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