Analog Devices' (ADI) Buy Rating Reiterated at Benchmark

Analog Devices (NASDAQ:ADI - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Benchmark in a report issued on Friday, MarketBeat Ratings reports. They presently 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 points to a potential upside of 19.62% from the stock's previous close.

A number of other analysts also recently commented on the stock. Barclays cut their price objective on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a "buy" rating on the stock. TD Cowen lifted their price objective on Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Cantor Fitzgerald lifted their target price on Analog Devices from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Finally, Oppenheimer lifted their target price on Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 16th. One research 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $248.63.

Analog Devices Stock Performance

Shares of ADI stock traded up $0.47 on Friday, hitting $217.36. The company had a trading volume of 1,370,418 shares, compared to its average volume of 3,517,182. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a 50-day moving average price of $197.89 and a 200-day moving average price of $210.07. The firm has a market cap of $107.80 billion, a P/E ratio of 69.23, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 EPS. As a group, equities research analysts predict that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Analog Devices

Several institutional investors have recently made changes to their positions in the stock. Activest Wealth Management lifted its stake in shares of Analog Devices by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 127 shares during the period. Orion Capital Management LLC acquired a new position in Analog Devices during the fourth quarter worth about $27,000. Menard Financial Group LLC purchased a new position in Analog Devices in the fourth quarter valued at about $27,000. Alpine Bank Wealth Management acquired a new stake in shares of Analog Devices during the 1st quarter valued at approximately $27,000. Finally, Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter valued at approximately $30,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.