Analog Devices (NASDAQ:ADI) Rating Increased to Overweight at Cantor Fitzgerald

Analog Devices (NASDAQ:ADI - Get Free Report) was upgraded by investment analysts at Cantor Fitzgerald from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage currently has a $270.00 price objective on the semiconductor company's stock, up from their prior price objective of $250.00. Cantor Fitzgerald's price target suggests a potential upside of 17.57% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised their price target on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. TD Cowen increased their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Stifel Nicolaus boosted their target price on shares of Analog Devices from $225.00 to $248.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Cfra Research lowered shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, May 22nd. Finally, Morgan Stanley reduced their target price on Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $251.75.

Analog Devices Trading Up 1.0%

ADI traded up $2.21 during trading on Wednesday, hitting $229.65. 2,551,500 shares of the stock were exchanged, compared to its average volume of 3,577,689. Analog Devices has a 1 year low of $158.65 and a 1 year high of $247.10. The firm has a market cap of $113.96 billion, a price-to-earnings ratio of 62.58, a P/E/G ratio of 2.10 and a beta of 1.00. The firm has a 50 day simple moving average of $207.54 and a 200 day simple moving average of $211.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share 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 company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. The firm's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, equities analysts expect that Analog Devices will post 7.14 EPS for the current year.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. The trade was a 1.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. The trade was a 22.71% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,934 shares of company stock worth $5,807,196. Insiders own 0.33% of the company's stock.

Institutional Trading of Analog Devices

A number of hedge funds have recently bought and sold shares of ADI. Activest Wealth Management lifted its position in Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company's stock worth $26,000 after buying an additional 127 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter worth $27,000. Menard Financial Group LLC purchased a new position in shares of Analog Devices during the 4th quarter worth $27,000. Alpine Bank Wealth Management acquired a new position in shares of Analog Devices during the 1st quarter valued at about $27,000. Finally, Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $30,000. Institutional investors and hedge funds 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.