Analog Devices (NASDAQ:ADI) Rating Increased to Buy at Wall Street Zen

Analog Devices (NASDAQ:ADI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

A number of other equities analysts have also weighed in on the company. TD Cowen upped their target price on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Stifel Nicolaus upped their target price on Analog Devices from $225.00 to $248.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Truist Financial upped their price target on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. 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, May 23rd. Finally, Barclays upped their price target on Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $248.63.

Analog Devices Trading Up 0.1%

Shares of Analog Devices stock traded up $0.13 during midday trading on Friday, reaching $215.75. The company had a trading volume of 3,799,975 shares, compared to its average volume of 3,533,248. Analog Devices has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a fifty day moving average price of $198.18 and a 200 day moving average price of $210.08. The firm has a market cap of $107.01 billion, a PE ratio of 68.71, a P/E/G ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results 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 return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.64 billion for 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. Analog Devices's revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities analysts anticipate that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has authorized a stock buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity

In other news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the transaction, the director now owns 180,071 shares of the company's stock, valued at $35,265,104.64. This represents a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company'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 transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock valued at $8,735,156 in the last 90 days. Insiders own 0.33% of the company's stock.

Institutional Trading of Analog Devices

A number of institutional investors have recently added to or reduced their stakes in ADI. Norges Bank purchased a new stake in Analog Devices during the 4th quarter worth about $1,755,958,000. Raymond James Financial Inc. purchased a new stake in Analog Devices during the 4th quarter worth about $833,386,000. Proficio Capital Partners LLC lifted its holdings in Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock worth $652,943,000 after purchasing an additional 3,059,349 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Analog Devices by 26.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company's stock worth $2,304,098,000 after purchasing an additional 2,407,460 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Analog Devices by 25,460.1% during the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock worth $446,037,000 after purchasing an additional 2,203,062 shares in the last quarter. Hedge funds and other 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.