Analog Devices, Inc. (NASDAQ:ADI)’s share price hit a new 52-week high on Tuesday after BMO Capital Markets raised their price target on the stock from $155.00 to $190.00. BMO Capital Markets currently has an outperform rating on the stock. Analog Devices traded as high as $164.67 and last traded at $161.90, with a volume of 13892 shares. The stock had previously closed at $160.78.
Other equities analysts have also issued reports about the company. Raymond James increased their price target on Analog Devices from $140.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, November 25th. Zacks Investment Research raised Analog Devices from a “sell” rating to a “hold” rating and set a $143.00 price target for the company in a research note on Friday, November 27th. Piper Sandler increased their price target on Analog Devices from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, November 25th. Royal Bank of Canada increased their price target on Analog Devices from $174.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Evercore ISI raised Analog Devices from an “in-line” rating to an “outperform” rating and increased their price target for the company from $135.00 to $160.00 in a research note on Monday, November 9th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Analog Devices currently has an average rating of “Buy” and a consensus price target of $147.92.
In other news, Director James Champy sold 1,562 shares of the firm’s stock in a transaction dated Wednesday, January 13th. The stock was sold at an average price of $160.00, for a total value of $249,920.00. Following the sale, the director now directly owns 8,406 shares of the company’s stock, valued at $1,344,960. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 3,625 shares of the firm’s stock in a transaction dated Friday, November 27th. The stock was sold at an average price of $138.41, for a total transaction of $501,736.25. Following the transaction, the chief financial officer now owns 15,184 shares of the company’s stock, valued at approximately $2,101,617.44. The disclosure for this sale can be found here. Insiders have sold 25,736 shares of company stock worth $3,751,212 over the last three months. Company insiders own 0.42% of the company’s stock.
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A number of institutional investors and hedge funds have recently made changes to their positions in ADI. Regentatlantic Capital LLC raised its stake in shares of Analog Devices by 13.6% in the third quarter. Regentatlantic Capital LLC now owns 3,779 shares of the semiconductor company’s stock valued at $441,000 after acquiring an additional 453 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Analog Devices by 231.8% in the third quarter. Avantax Advisory Services Inc. now owns 5,491 shares of the semiconductor company’s stock valued at $641,000 after acquiring an additional 3,836 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in shares of Analog Devices by 5.9% in the third quarter. Aptus Capital Advisors LLC now owns 21,676 shares of the semiconductor company’s stock valued at $2,530,000 after acquiring an additional 1,203 shares during the last quarter. Ascension Asset Management LLC bought a new position in shares of Analog Devices in the third quarter valued at approximately $2,037,000. Finally, McGuire Investment Group LLC raised its stake in shares of Analog Devices by 0.6% in the third quarter. McGuire Investment Group LLC now owns 85,854 shares of the semiconductor company’s stock valued at $10,023,000 after acquiring an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 91.90% of the company’s stock.
The business’s 50 day moving average price is $153.24 and its 200-day moving average price is $132.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 1.40. The company has a market cap of $60.19 billion, a P/E ratio of 49.02, a PEG ratio of 2.26 and a beta of 1.31.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Monday, November 23rd. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations 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 previous year, the company posted $1.19 earnings per share. As a group, research analysts forecast that Analog Devices, Inc. will post 5.69 EPS for the current year.
About Analog Devices (NASDAQ:ADI)
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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