Morgan Stanley Has Lowered Expectations for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI - Get Free Report) had its target price lowered by stock analysts at Morgan Stanley from $214.00 to $212.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the semiconductor company's stock. Morgan Stanley's price target would indicate a potential upside of 2.01% from the company's current price.

A number of other analysts have also recently issued reports on the company. Barclays lowered their target price on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus raised their price objective on Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a report on Tuesday. Citigroup increased their price target on shares of Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a research note on Monday. Oppenheimer increased their price target on Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Benchmark lowered their target price on Analog Devices from $275.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $251.00.

Analog Devices Price Performance

NASDAQ:ADI traded down $4.11 during mid-day trading on Friday, reaching $207.82. 541,216 shares of the company were exchanged, compared to its average volume of 3,513,302. The stock has a market cap of $103.08 billion, a PE ratio of 66.36, a PEG ratio of 2.85 and a beta of 0.98. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $197.63 and a 200 day moving average of $210.41. Analog Devices has a 12 month low of $158.65 and a 12 month 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 return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $1.40 EPS. The firm's revenue was up 22.3% on a year-over-year basis. On average, research analysts anticipate that Analog Devices will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its Board of Directors has approved a share buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 sale, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 12,684 shares of the 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 transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. The trade was a 22.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dakota Wealth Management grew its position in Analog Devices by 2.4% in the fourth quarter. Dakota Wealth Management now owns 8,894 shares of the semiconductor company's stock worth $1,890,000 after acquiring an additional 210 shares during the period. Advisory Alpha LLC increased its holdings in shares of Analog Devices by 46.2% in the 4th quarter. Advisory Alpha LLC now owns 1,288 shares of the semiconductor company's stock valued at $274,000 after acquiring an additional 407 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Analog Devices by 2.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 105,784 shares of the semiconductor company's stock valued at $22,475,000 after buying an additional 2,048 shares during the last quarter. Mutual Advisors LLC increased its position in shares of Analog Devices by 8.6% during the fourth quarter. Mutual Advisors LLC now owns 2,060 shares of the semiconductor company's stock worth $443,000 after purchasing an additional 164 shares in the last quarter. Finally, Cerro Pacific Wealth Advisors LLC lifted its stake in Analog Devices by 3.3% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 5,830 shares of the semiconductor company's stock valued at $1,342,000 after buying an additional 188 shares during the last quarter. 86.81% of the stock is 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.

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