Analog Devices (NASDAQ:ADI) Upgraded to "Strong Sell" at Seaport Res Ptn

Analog Devices (NASDAQ:ADI - Get Free Report) was upgraded by Seaport Res Ptn to a "strong sell" rating in a research note issued to investors on Wednesday,Zacks.com reports.

ADI has been the subject of a number of other reports. 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 research note on Thursday, February 20th. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. Maxim Group started coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating on the stock. Citigroup dropped their target price on Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Benchmark boosted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $250.43.

Analog Devices Price Performance

Analog Devices stock traded down $0.69 during midday trading on Wednesday, reaching $197.90. 1,308,213 shares of the stock traded hands, compared to its average volume of 3,475,480. 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 12 month low of $158.65 and a 12 month high of $247.10. The stock's fifty day moving average is $198.79 and its 200-day moving average is $211.37. The stock has a market cap of $98.15 billion, a P/E ratio of 63.03, a PEG ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.73 earnings per share. As a group, equities research analysts anticipate that Analog Devices will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer now directly owns 142,996 shares of the company's stock, valued at $28,147,332.64. The trade was a 6.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now 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. Insiders sold 39,809 shares of company stock worth $8,123,156 over the last quarter. Corporate insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. OneAscent Financial Services LLC increased its position in shares of Analog Devices by 112.4% during the first quarter. OneAscent Financial Services LLC now owns 3,996 shares of the semiconductor company's stock valued at $800,000 after purchasing an additional 2,115 shares during the period. AustralianSuper Pty Ltd bought a new position in shares of Analog Devices during the 1st quarter worth about $520,000. Kestra Private Wealth Services LLC boosted its position in shares of Analog Devices by 2.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 44,663 shares of the semiconductor company's stock valued at $9,007,000 after acquiring an additional 1,105 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Analog Devices by 14.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 13,803 shares of the semiconductor company's stock valued at $2,784,000 after acquiring an additional 1,746 shares during the period. Finally, Kingsview Wealth Management LLC lifted its stake in Analog Devices by 1.5% during the first quarter. Kingsview Wealth Management LLC now owns 44,475 shares of the semiconductor company's stock worth $8,969,000 after purchasing an additional 639 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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.