Analog Devices, Inc. (NASDAQ:ADI) had its price objective lifted by equities researchers at Stifel Nicolaus from $97.00 to $98.00 in a research report issued on Thursday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 9.91% from the stock’s previous close.
Several other equities analysts have also weighed in on the company. Royal Bank Of Canada lifted their price objective on Analog Devices from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, August 31st. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Tuesday, October 10th. BidaskClub raised Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Drexel Hamilton reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Analog Devices in a research note on Wednesday, August 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $96.00 price objective on shares of Analog Devices in a research note on Thursday, August 31st. Twelve research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $93.69.
Analog Devices (NASDAQ:ADI) opened at $89.16 on Thursday. The firm has a market capitalization of $33,251.87, a PE ratio of 21.13, a PEG ratio of 1.76 and a beta of 1.32. Analog Devices has a 52 week low of $67.38 and a 52 week high of $92.96. The company has a quick ratio of 1.52, a current ratio of 1.99 and a debt-to-equity ratio of 0.83.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The company’s revenue was up 64.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. sell-side analysts anticipate that Analog Devices will post 4.62 earnings per share for the current fiscal year.
In related news, Director James Champy sold 10,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $85.00, for a total transaction of $850,000.00. Following the completion of the transaction, the director now directly owns 20,185 shares in the company, valued at approximately $1,715,725. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Peter Real sold 4,505 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $89.43, for a total value of $402,882.15. Following the transaction, the senior vice president now owns 13,531 shares of the company’s stock, valued at $1,210,077.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,994 shares of company stock valued at $11,604,048. 1.10% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC acquired a new position in Analog Devices during the 3rd quarter worth $501,000. Cetera Investment Advisers boosted its position in Analog Devices by 59.3% during the 3rd quarter. Cetera Investment Advisers now owns 11,650 shares of the semiconductor company’s stock worth $1,009,000 after acquiring an additional 4,336 shares during the period. IFM Investors Pty Ltd acquired a new position in Analog Devices during the 3rd quarter worth $884,000. Yellowstone Partners LLC acquired a new position in Analog Devices during the 3rd quarter worth $620,000. Finally, Fieldpoint Private Securities LLC boosted its position in Analog Devices by 91.6% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,475 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 705 shares during the period. Hedge funds and other institutional investors own 86.42% of the company’s stock.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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