Analog Devices (NASDAQ:ADI) had its price objective boosted by research analysts at KeyCorp from $160.00 to $175.00 in a research report issued on Wednesday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price target indicates a potential upside of 17.74% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Raymond James raised their price objective on Analog Devices from $140.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 25th. The Goldman Sachs Group raised their price objective on Analog Devices from $156.00 to $169.00 and gave the stock a “buy” rating in a research report on Monday, December 14th. Argus raised their price objective on Analog Devices from $145.00 to $155.00 in a research report on Wednesday, November 25th. Summit Insights lowered Analog Devices from a “buy” rating to a “hold” rating in a report on Tuesday, November 24th. Finally, Piper Sandler lifted their price target on Analog Devices from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, November 25th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $141.96.
Shares of ADI opened at $148.63 on Wednesday. The business’s 50-day moving average price is $141.63 and its 200 day moving average price is $125.03. The stock has a market capitalization of $54.92 billion, a P/E ratio of 45.31, a P/E/G ratio of 2.13 and a beta of 1.31. Analog Devices has a 1-year low of $79.07 and a 1-year high of $150.54. The company has a current ratio of 1.84, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43.
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Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Monday, November 23rd. The semiconductor company reported $1.44 earnings per share 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 period in the previous year, the company posted $1.19 EPS. On average, research analysts predict that Analog Devices will post 5.65 earnings per share for the current year.
In other news, SVP Martin Cotter sold 10,000 shares of the company’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $124.56, for a total transaction of $1,245,600.00. Following the transaction, the senior vice president now owns 13,628 shares of the company’s stock, valued at $1,697,503.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 1,700 shares of the company’s stock in a transaction on Monday, December 28th. The shares were sold at an average price of $146.75, for a total value of $249,475.00. Following the transaction, the chief financial officer now directly owns 11,694 shares in the company, valued at approximately $1,716,094.50. The disclosure for this sale can be found here. In the last three months, insiders sold 50,318 shares of company stock worth $6,863,091. Insiders own 0.42% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADI. BlackRock Inc. increased its holdings in Analog Devices by 10.6% during the 3rd quarter. BlackRock Inc. now owns 30,760,256 shares of the semiconductor company’s stock worth $3,590,951,000 after purchasing an additional 2,946,683 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Analog Devices by 19.2% during 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 buying an additional 4,199,225 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Analog Devices by 1.8% during 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 buying an additional 73,905 shares in the last quarter. Alkeon Capital Management LLC lifted its stake in shares of Analog Devices by 4.5% during 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 buying an additional 100,000 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Analog Devices by 1.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,981,258 shares of the semiconductor company’s stock valued at $242,981,000 after buying an additional 34,329 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.
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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