Analog Devices (NASDAQ:ADI) Price Target Raised to $291.00 at Truist Financial

by · The Markets Daily

Analog Devices (NASDAQ:ADI – Get Free Report) had its price objective raised by stock analysts at Truist Financial from $258.00 to $291.00 in a research note issued on Friday, MarketBeat reports. The firm currently has a “hold” rating on the semiconductor company’s stock. Truist Financial’s price target would indicate a potential upside of 5.85% from the stock’s current price.

Several other research firms have also recently commented on ADI. BNP Paribas Exane began coverage on Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price target for the company. Robert W. Baird upped their target price on Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, November 26th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $270.00 target price on shares of Analog Devices in a research note on Wednesday, November 26th. Evercore ISI lowered their price target on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. Finally, UBS Group upped their price objective on shares of Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.22.

Read Our Latest Research Report on ADI

Analog Devices Stock Performance

NASDAQ:ADI opened at $274.92 on Friday. The company has a market cap of $134.62 billion, a P/E ratio of 60.29, a P/E/G ratio of 1.50 and a beta of 1.04. Analog Devices has a twelve month low of $158.65 and a twelve month high of $284.23. The company’s 50-day moving average price is $249.19 and its 200-day moving average price is $241.82. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. On average, sell-side analysts forecast that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Insider Activity at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $279.39, for a total transaction of $873,093.75. Following the completion of the transaction, the director owned 136,321 shares of the company’s stock, valued at approximately $38,086,724.19. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the sale, the chief accounting officer owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This trade represents a 30.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 40,419 shares of company stock valued at $10,249,017 over the last quarter. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors have recently modified their holdings of ADI. Quent Capital LLC boosted its stake in Analog Devices by 2.4% during the 3rd quarter. Quent Capital LLC now owns 1,810 shares of the semiconductor company’s stock valued at $445,000 after purchasing an additional 42 shares during the period. Baader Bank Aktiengesellschaft boosted its position in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock worth $270,000 after buying an additional 43 shares during the period. Carson Advisory Inc. grew its holdings in Analog Devices by 3.1% in the 3rd quarter. Carson Advisory Inc. now owns 1,441 shares of the semiconductor company’s stock worth $354,000 after buying an additional 43 shares in the last quarter. Sivia Capital Partners LLC increased its position in Analog Devices by 2.5% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,796 shares of the semiconductor company’s stock valued at $441,000 after acquiring an additional 44 shares during the period. Finally, Klingman & Associates LLC increased its position in Analog Devices by 3.7% in the 3rd quarter. Klingman & Associates LLC now owns 1,274 shares of the semiconductor company’s stock valued at $313,000 after acquiring an additional 45 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Company Profile

(Get Free Report)

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.

Read More