Analog Devices (NASDAQ:ADI - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Benchmark in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a $260.00 price objective on the semiconductor company's stock, down from their previous price objective of $275.00. Benchmark's price objective indicates a potential upside of 19.88% from the stock's current price.
ADI has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their target price on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Cantor Fitzgerald increased their target price on Analog Devices from $230.00 to $250.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. TD Cowen upped their target price on Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company boosted their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. Finally, Oppenheimer upped their price target on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and an average price target of $248.63.
Check Out Our Latest Research Report on Analog Devices
Analog Devices Price Performance
ADI stock traded up $6.42 during trading on Friday, hitting $216.89. 5,542,165 shares of the company's stock traded hands, compared to its average volume of 4,179,540. The stock has a market capitalization of $107.57 billion, a price-to-earnings ratio of 69.07, a P/E/G ratio of 2.85 and a beta of 0.98. The business has a fifty day simple moving average of $197.67 and a 200 day simple moving average of $210.03. Analog Devices has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.
Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 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 business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, research analysts expect that Analog Devices will post 7.14 EPS for the current fiscal year.
Analog Devices announced that its board has approved a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.
Insider Activity at Analog Devices
In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock worth $8,735,156 over the last ninety days. 0.33% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Analog Devices
A number of large investors have recently added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in Analog Devices by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 127 shares during the period. Orion Capital Management LLC purchased a new position in shares of Analog Devices during the 4th quarter worth $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices in the 4th quarter valued at $27,000. Alpine Bank Wealth Management purchased a new position in Analog Devices in the first quarter valued at $27,000. Finally, Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $30,000. 86.81% of the stock is currently owned by institutional investors.
About Analog Devices
(
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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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