Brokerages Set Analog Devices, Inc. (NASDAQ:ADI) Price Target at $109.94

Shares of Analog Devices, Inc. (NASDAQ:ADI) have been assigned an average rating of “Buy” from the twenty-two analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $109.94.

ADI has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their price target on Analog Devices from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. ValuEngine upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Zacks Investment Research lowered Analog Devices from a “hold” rating to a “strong sell” rating and set a $102.00 price target for the company. in a research report on Wednesday, May 29th. Nomura initiated coverage on Analog Devices in a research report on Monday, June 3rd. They issued a “neutral” rating and a $90.00 price target for the company. Finally, Piper Jaffray Companies increased their price target on Analog Devices from $118.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th.

ADI stock traded up $2.07 during mid-day trading on Tuesday, reaching $110.52. The company had a trading volume of 2,576,200 shares, compared to its average volume of 2,271,997. The company has a quick ratio of 1.08, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $40.10 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.67 and a beta of 1.41. Analog Devices has a one year low of $76.62 and a one year high of $124.79. The stock’s 50-day simple moving average is $114.64 and its two-hundred day simple moving average is $108.97.



Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.06. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Analog Devices had a return on equity of 19.17% and a net margin of 25.18%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business posted $1.45 earnings per share. On average, research analysts forecast that Analog Devices will post 5.21 EPS for the current fiscal year.

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $98.23, for a total transaction of $982,300.00. Following the sale, the chief executive officer now directly owns 31,206 shares in the company, valued at $3,065,365.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Yusuf Jamal sold 31,867 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total value of $3,129,020.73. Following the completion of the sale, the senior vice president now directly owns 2,124 shares in the company, valued at approximately $208,555.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,266 shares of company stock worth $11,006,074. Company insiders own 0.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Fiera Capital Corp boosted its stake in Analog Devices by 2.8% in the first quarter. Fiera Capital Corp now owns 1,667,696 shares of the semiconductor company’s stock worth $175,559,000 after purchasing an additional 44,740 shares in the last quarter. Tradition Capital Management LLC boosted its stake in Analog Devices by 18.6% in the first quarter. Tradition Capital Management LLC now owns 6,470 shares of the semiconductor company’s stock worth $681,000 after purchasing an additional 1,015 shares in the last quarter. Timucuan Asset Management Inc. FL boosted its stake in Analog Devices by 2.2% in the first quarter. Timucuan Asset Management Inc. FL now owns 820,650 shares of the semiconductor company’s stock worth $86,390,000 after purchasing an additional 17,904 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Analog Devices by 43.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,225 shares of the semiconductor company’s stock worth $1,603,000 after purchasing an additional 4,625 shares in the last quarter. Finally, Papp L Roy & Associates boosted its stake in Analog Devices by 5.8% in the first quarter. Papp L Roy & Associates now owns 53,428 shares of the semiconductor company’s stock worth $5,624,000 after purchasing an additional 2,943 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Company Profile

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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