Analog Devices (NASDAQ:ADI) Given New $245.00 Price Target at Oppenheimer

Analog Devices (NASDAQ:ADI - Get Free Report) had its price objective increased by analysts at Oppenheimer from $215.00 to $245.00 in a report issued on Thursday, Benzinga reports. The firm currently has an "outperform" rating on the semiconductor company's stock. Oppenheimer's target price would suggest a potential upside of 14.42% from the stock's previous close.

A number of other brokerages also recently weighed in on ADI. Morgan Stanley reiterated an "overweight" rating and issued a $212.00 target price on shares of Analog Devices in a report on Thursday, April 11th. KeyCorp boosted their target price on shares of Analog Devices from $220.00 to $230.00 and gave the company an "overweight" rating in a research report on Thursday, February 22nd. Evercore ISI began coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an "outperform" rating and a $254.00 price target for the company. The Goldman Sachs Group increased their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, February 22nd. Finally, Jefferies Financial Group started coverage on Analog Devices in a report on Monday. They issued a "buy" rating and a $250.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $212.63.

Analog Devices Trading Down 0.8 %

NASDAQ:ADI traded down $1.63 on Thursday, reaching $214.12. 2,820,016 shares of the stock traded hands, compared to its average volume of 3,301,305. The firm has a market capitalization of $106.18 billion, a price-to-earnings ratio of 38.33, a price-to-earnings-growth ratio of 5.24 and a beta of 1.14. Analog Devices has a 1-year low of $154.99 and a 1-year high of $216.00. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The company's 50 day moving average is $196.87 and its 200-day moving average is $190.66.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the firm posted $2.75 earnings per share. The business's quarterly revenue was down 22.7% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices will post 5.85 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company's stock, valued at $10,057,745.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director James Champy sold 1,228 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company's stock, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,057,745.34. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,874,613 in the last ninety days. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Interval Partners LP purchased a new position in Analog Devices in the 1st quarter worth about $1,978,000. Benchmark Investment Advisors LLC raised its holdings in shares of Analog Devices by 299.9% during the first quarter. Benchmark Investment Advisors LLC now owns 6,355 shares of the semiconductor company's stock valued at $1,257,000 after purchasing an additional 4,766 shares during the last quarter. Paloma Partners Management Co lifted its position in Analog Devices by 483.3% during the first quarter. Paloma Partners Management Co now owns 1,518 shares of the semiconductor company's stock valued at $300,000 after purchasing an additional 1,914 shares during the period. Ascent Group LLC boosted its holdings in Analog Devices by 156.6% in the first quarter. Ascent Group LLC now owns 19,718 shares of the semiconductor company's stock worth $3,900,000 after purchasing an additional 12,035 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its holdings in Analog Devices by 1.0% in the first quarter. Mount Yale Investment Advisors LLC now owns 10,955 shares of the semiconductor company's stock worth $2,167,000 after purchasing an additional 111 shares during the last quarter. Hedge funds and other 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.