Stifel Nicolaus Increases Analog Devices, Inc. (ADI) Price Target to $98.00

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.

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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.

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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