Analog Devices (NASDAQ:ADI) Receives New Coverage from Analysts at Evercore ISI

Research analysts at Evercore ISI began coverage on shares of Analog Devices (NASDAQ:ADI - Get Free Report) in a report released on Tuesday, MarketBeat reports. The brokerage set an "outperform" rating and a $254.00 price target on the semiconductor company's stock. Evercore ISI's price objective would suggest a potential upside of 32.82% from the company's previous close.

A number of other equities research analysts also recently weighed in on the stock. KeyCorp upped their price target on shares of Analog Devices from $220.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday, February 22nd. Morgan Stanley restated an "overweight" rating and issued a $212.00 price target on shares of Analog Devices in a research report on Thursday, April 11th. Barclays upped their price target on Analog Devices from $180.00 to $185.00 and gave the company an "equal weight" rating in a report on Tuesday, January 16th. Edward Jones raised Analog Devices from a "hold" rating to a "buy" rating in a research note on Friday, December 22nd. Finally, Oppenheimer restated an "outperform" rating and issued a $215.00 target price on shares of Analog Devices in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.17.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded up $0.94 on Tuesday, hitting $191.23. The company's stock had a trading volume of 2,268,041 shares, compared to its average volume of 3,351,054. The company has a market capitalization of $94.83 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 4.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. Analog Devices has a 12 month low of $154.99 and a 12 month high of $204.20. The stock's 50-day moving average is $193.23 and its two-hundred day moving average is $186.44.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (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 firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm posted $2.75 EPS. Analog Devices's revenue was down 22.7% compared to the same quarter last year. On average, equities research analysts forecast that Analog Devices will post 5.86 EPS for the current year.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares of the company's stock, valued at approximately $1,097,524.43. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares of the company's stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,825,113 in the last 90 days. 0.31% of the stock is owned by insiders.

Institutional Trading of Analog Devices

A number of hedge funds have recently modified their holdings of ADI. Pinnacle Bancorp Inc. increased its stake in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 65 shares during the period. USA Financial Formulas raised its holdings in shares of Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company's stock worth $28,000 after buying an additional 65 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in shares of Analog Devices during the 3rd quarter worth approximately $29,000. Cetera Trust Company N.A acquired a new stake in Analog Devices in the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new stake in Analog Devices in the fourth quarter valued at $29,000. Institutional investors own 86.81% of the company's stock.

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.