Barclays Issues Pessimistic Forecast for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI - Get Free Report) had its target price dropped by equities research analysts at Barclays from $240.00 to $170.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the semiconductor company's stock. Barclays's price target indicates a potential downside of 12.64% from the company's previous close.

ADI has been the subject of a number of other reports. Benchmark lifted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Wells Fargo & Company upped their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Citigroup cut their target price on Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Morgan Stanley boosted their price target on Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, UBS Group raised their price objective on Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $250.43.

Analog Devices Stock Down 0.3 %

NASDAQ ADI traded down $0.64 during trading on Tuesday, reaching $194.59. 3,206,761 shares of the company's stock were exchanged, compared to its average volume of 3,459,754. The firm has a market capitalization of $96.51 billion, a PE ratio of 61.97, a P/E/G ratio of 2.85 and a beta of 1.06. Analog Devices has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company's fifty day simple moving average is $203.25 and its 200-day simple moving average is $212.73.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business earned $1.73 EPS. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts predict that Analog Devices will post 7.14 EPS for the current year.

Analog Devices announced that its board has authorized a share buyback plan 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 plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of the firm's 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 owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,809 shares of company stock valued at $6,154,756 over the last quarter. Corporate insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Analog Devices

A number of hedge funds have recently added to or reduced their stakes in ADI. Alta Advisers Ltd increased its holdings in shares of Analog Devices by 48.9% in the first quarter. Alta Advisers Ltd now owns 2,436 shares of the semiconductor company's stock valued at $491,000 after purchasing an additional 800 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Analog Devices during the first quarter worth $8,648,000. Smith Salley Wealth Management boosted its holdings in Analog Devices by 1.2% in the first quarter. Smith Salley Wealth Management now owns 104,318 shares of the semiconductor company's stock valued at $21,038,000 after acquiring an additional 1,188 shares during the last quarter. Libra Wealth LLC bought a new stake in Analog Devices during the 1st quarter worth about $341,000. Finally, Koshinski Asset Management Inc. boosted its stake in shares of Analog Devices by 2.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,472 shares of the semiconductor company's stock valued at $902,000 after purchasing an additional 113 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.