Analog Devices (NASDAQ:ADI) Price Target Cut to $285.00 by Analysts at UBS Group

Analog Devices (NASDAQ:ADI - Get Free Report) had its price target reduced by investment analysts at UBS Group from $295.00 to $285.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. UBS Group's target price would indicate a potential upside of 35.64% from the company's previous close.

Other research analysts have also recently issued research reports about the company. Maxim Group initiated coverage on Analog Devices in a report on Friday, February 14th. They issued a "buy" rating on the stock. Wells Fargo & Company upped their price target on Analog Devices from $200.00 to $205.00 and gave the stock an "equal weight" rating in a report on Friday. Evercore ISI raised their price objective on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday. Citigroup lifted their price objective on Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a report on Monday. Finally, Barclays raised their price target on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $250.00.

Analog Devices Stock Performance

Shares of ADI stock traded down $1.82 on Friday, hitting $210.11. 2,288,757 shares of the stock traded hands, compared to its average volume of 3,519,596. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices has a 1-year low of $158.65 and a 1-year high of $247.10. The company's fifty day moving average is $197.63 and its 200 day moving average is $210.41. The company has a market capitalization of $104.21 billion, a PE ratio of 67.02, a PEG ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. On average, equities research analysts predict that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the transaction, the director now owns 180,071 shares in the company, valued at approximately $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is owned by company insiders.

Institutional Trading of Analog Devices

Hedge funds and other institutional investors have recently modified their holdings of the business. EFG Asset Management North America Corp. raised its stake in shares of Analog Devices by 0.3% during the 1st quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company's stock valued at $2,866,000 after purchasing an additional 47 shares during the period. Midwest Professional Planners LTD. boosted its stake in Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after buying an additional 53 shares during the period. Portland Global Advisors LLC grew its position in Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after buying an additional 53 shares in the last quarter. Heritage Financial Services LLC raised its holdings in shares of Analog Devices by 1.6% in the 1st quarter. Heritage Financial Services LLC now owns 3,317 shares of the semiconductor company's stock valued at $669,000 after acquiring an additional 53 shares in the last quarter. Finally, NTV Asset Management LLC boosted its position in shares of Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after acquiring an additional 54 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.

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