Analysts Set Analog Devices, Inc. (NASDAQ:ADI) Price Target at $249.80

Shares of Analog Devices, Inc. (NASDAQ:ADI) have earned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $253.74.

ADI has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Morgan Stanley raised their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the company from $266.00 to $233.00 in a report on Monday, September 23rd.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,995 shares of company stock worth $25,116,338 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

A number of hedge funds have recently made changes to their positions in ADI. Anchor Investment Management LLC lifted its position in shares of Analog Devices by 33.2% during the third quarter. Anchor Investment Management LLC now owns 2,485 shares of the semiconductor company’s stock worth $572,000 after purchasing an additional 619 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in Analog Devices by 4.1% during the third quarter. SkyView Investment Advisors LLC now owns 3,261 shares of the semiconductor company’s stock valued at $751,000 after buying an additional 128 shares in the last quarter. Invst LLC lifted its holdings in Analog Devices by 7.7% during the 3rd quarter. Invst LLC now owns 974 shares of the semiconductor company’s stock worth $224,000 after buying an additional 70 shares during the last quarter. TCW Group Inc. increased its holdings in shares of Analog Devices by 10.7% in the 3rd quarter. TCW Group Inc. now owns 15,436 shares of the semiconductor company’s stock valued at $3,553,000 after acquiring an additional 1,491 shares during the last quarter. Finally, Soltis Investment Advisors LLC bought a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $1,275,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 1.1 %

Shares of Analog Devices stock opened at $213.36 on Tuesday. The business has a 50 day moving average price of $225.09 and a 200 day moving average price of $225.33. The company has a market capitalization of $105.93 billion, a P/E ratio of 64.07, a P/E/G ratio of 2.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices has a 1 year low of $179.63 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business’s revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.49 earnings per share. Sell-side analysts anticipate that Analog Devices will post 6.34 EPS for the current fiscal year.

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.