Analog Devices (NASDAQ:ADI) Price Target Increased to $260.00 by Analysts at Morgan Stanley

Analog Devices (NASDAQ:ADI) had its price objective boosted by stock analysts at Morgan Stanley from $221.00 to $260.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price target suggests a potential upside of 10.67% from the stock’s previous close.

ADI has been the subject of a number of other research reports. Susquehanna increased their price target on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research report on Thursday. Cantor Fitzgerald increased their price target on Analog Devices from $205.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Evercore ISI started coverage on Analog Devices in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target for the company. Bank of America increased their price target on Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday. Finally, TD Cowen raised their price objective on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.67.

Analog Devices Stock Performance

Shares of ADI traded down $5.22 during trading hours on Thursday, reaching $234.94. 1,880,764 shares of the company’s stock traded hands, compared to its average volume of 3,331,953. The firm has a market capitalization of $116.51 billion, a price-to-earnings ratio of 42.03, a P/E/G ratio of 5.44 and a beta of 1.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices has a twelve month low of $154.99 and a twelve month high of $241.88. The business’s fifty day simple moving average is $199.12 and its two-hundred day simple moving average is $192.74.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the business posted $2.83 earnings per share. The company’s quarterly revenue was down 33.8% on a year-over-year basis. Analysts predict that Analog Devices will post 5.85 earnings per share for the current year.

Insider Transactions at Analog Devices

In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADI. MGO One Seven LLC grew its stake in Analog Devices by 14.6% in the third quarter. MGO One Seven LLC now owns 2,865 shares of the semiconductor company’s stock valued at $502,000 after acquiring an additional 366 shares during the period. Syon Capital LLC acquired a new position in Analog Devices in the third quarter valued at about $498,000. NBC Securities Inc. acquired a new position in Analog Devices in the third quarter valued at about $123,000. Pinnacle Financial Partners Inc grew its stake in Analog Devices by 606.5% in the third quarter. Pinnacle Financial Partners Inc now owns 2,282 shares of the semiconductor company’s stock valued at $400,000 after acquiring an additional 1,959 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC grew its stake in Analog Devices by 5.1% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,772 shares of the semiconductor company’s stock valued at $310,000 after acquiring an additional 86 shares during the period. Institutional investors own 86.81% of the company’s stock.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.