Analog Devices (NASDAQ:ADI) Price Target Raised to $250.00

Analog Devices (NASDAQ:ADI) had its price target lifted by equities researchers at Robert W. Baird from $200.00 to $250.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Robert W. Baird’s price target suggests a potential upside of 6.58% from the stock’s current price.

Other equities analysts have also issued research reports about the company. TD Cowen increased their price target on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus increased their price target on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday. 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. 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. Finally, Evercore ISI began 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. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.42.

Analog Devices Trading Down 2.3 %

Shares of ADI stock opened at $234.56 on Friday. The stock has a 50-day simple moving average of $199.92 and a 200 day simple moving average of $193.03. Analog Devices has a fifty-two week low of $154.99 and a fifty-two week high of $241.88. The stock has a market capitalization of $116.39 billion, a P/E ratio of 54.80, a P/E/G ratio of 6.03 and a beta of 1.14. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.19.

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 10.74% and a net margin of 20.45%. 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. On average, sell-side analysts expect that Analog Devices will post 5.86 earnings per share for the current fiscal year.

Insider Activity at Analog Devices

In related news, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The transaction was disclosed in a legal filing with the SEC, which is available through 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 completion of the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $4,874,613 in the last 90 days. 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 the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Analog Devices by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after buying an additional 21,522 shares during the period. CTC Alternative Strategies Ltd. acquired a new position in Analog Devices during the fourth quarter valued at approximately $1,152,000. Sequoia Financial Advisors LLC boosted its position in Analog Devices by 107.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after purchasing an additional 6,564 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position in Analog Devices by 37.5% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after purchasing an additional 2,215 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Analog Devices by 4.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after purchasing an additional 4,516 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Company Profile

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.