Analog Devices (NASDAQ:ADI) Price Target Raised to $300.00

Analog Devices (NASDAQ:ADI - Get Free Report) had its price target increased by analysts at KeyCorp from $285.00 to $300.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the semiconductor company's stock. KeyCorp's price target indicates a potential upside of 23.65% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on ADI. Stifel Nicolaus boosted their target price on shares of Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. TD Cowen boosted their price target on Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Wells Fargo & Company set a $235.00 price target on Analog Devices and gave the company an "equal weight" rating in a research note on Monday, June 16th. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, Cfra Research downgraded Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of "Moderate Buy" and an average target price of $256.06.

Analog Devices Stock Down 1.0%

ADI traded down $2.54 during trading on Tuesday, reaching $242.62. 1,380,131 shares of the stock were exchanged, compared to its average volume of 3,596,394. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. The stock's 50 day moving average price is $223.12 and its two-hundred day moving average price is $213.18. Analog Devices has a twelve month low of $158.65 and a twelve month high of $247.73. The stock has a market cap of $120.40 billion, a P/E ratio of 66.11, a price-to-earnings-growth ratio of 2.23 and a beta of 1.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the business posted $1.40 earnings per share. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. Equities analysts expect that Analog Devices will post 7.14 EPS for the current year.

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 sale, the director directly owned 180,071 shares in the company, valued at $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer owned 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock worth $3,143,556 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently modified their holdings of ADI. Norges Bank purchased a new stake in Analog Devices in the 4th quarter valued at $1,755,958,000. Price T Rowe Associates Inc. MD raised its position in Analog Devices by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company's stock valued at $2,304,098,000 after buying an additional 2,407,460 shares during the last quarter. GAMMA Investing LLC raised its position in Analog Devices by 25,460.1% in the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock valued at $446,037,000 after buying an additional 2,203,062 shares during the last quarter. Nuveen LLC purchased a new stake in Analog Devices in the 1st quarter valued at $351,943,000. Finally, Kovitz Investment Group Partners LLC raised its position in Analog Devices by 301.1% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after buying an additional 1,186,981 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

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.