Barclays Forecasts Strong Price Appreciation for Analog Devices (NASDAQ:ADI) Stock

Analog Devices (NASDAQ:ADI - Get Free Report) had its price target boosted by equities research analysts at Barclays from $170.00 to $185.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the semiconductor company's stock. Barclays's price target points to a potential downside of 11.55% from the company's previous close.

ADI has been the topic of a number of other research reports. Morgan Stanley dropped their price objective on Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a report on Friday. Oppenheimer boosted their target price on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Benchmark cut their price target on shares of Analog Devices from $275.00 to $260.00 and set a "buy" rating for the company in a report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research note on Friday. Finally, Stifel Nicolaus boosted their price objective on shares of Analog Devices from $225.00 to $248.00 and gave the stock a "buy" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and a consensus price target of $252.86.

Analog Devices Stock Performance

Shares of ADI stock traded down $2.78 during mid-day trading on Friday, hitting $209.15. The stock had a trading volume of 935,308 shares, compared to its average volume of 3,514,718. The firm has a market cap of $103.73 billion, a PE ratio of 66.51, a PEG ratio of 2.85 and a beta of 0.98. The company's 50-day simple moving average is $197.63 and its 200-day simple moving average is $210.41. 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 fifty-two week low of $158.65 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. 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 prior year, the company posted $1.40 earnings per share. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. Sell-side analysts anticipate that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has initiated a share buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Vivek Jain sold 12,684 shares of the firm'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 owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. This represents a 1.65% 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 ninety days. Insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ADI. Activest Wealth Management increased 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 purchasing an additional 127 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Analog Devices during the 4th quarter valued at $27,000. Menard Financial Group LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth $27,000. Alpine Bank Wealth Management purchased a new position in shares of Analog Devices in the 1st quarter worth $27,000. Finally, Mainstream Capital Management LLC purchased a new position in shares of Analog Devices in the 4th quarter worth $30,000. Institutional investors and hedge funds 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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