Analog Devices, Inc. (NASDAQ:ADI) Given Average Recommendation of “Buy” by Brokerages

Analog Devices, Inc. (NASDAQ:ADI) has earned an average recommendation of “Buy” from the twenty-five ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $125.68.

A number of equities analysts recently issued reports on the stock. Raymond James increased their price target on shares of Analog Devices from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Royal Bank of Canada decreased their target price on Analog Devices from $136.00 to $122.00 in a research report on Tuesday, May 19th. Robert W. Baird dropped their price target on Analog Devices from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, May 21st. SunTrust Banks increased their price objective on Analog Devices from $93.00 to $104.00 and gave the stock a “hold” rating in a report on Tuesday, June 30th. Finally, Bank of America restated a “buy” rating and set a $145.00 target price on shares of Analog Devices in a report on Tuesday, July 14th.

Shares of ADI stock opened at $114.85 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.92 and a current ratio of 1.30. Analog Devices has a fifty-two week low of $79.07 and a fifty-two week high of $127.39. The firm has a market cap of $42.31 billion, a P/E ratio of 38.54, a P/E/G ratio of 1.85 and a beta of 1.35. The business’s 50 day moving average price is $119.00 and its 200-day moving average price is $110.55.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, May 20th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.03. Analog Devices had a net margin of 20.05% and a return on equity of 14.51%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted $1.36 earnings per share. The firm’s revenue for the quarter was down 13.7% compared to the same quarter last year. As a group, equities analysts predict that Analog Devices will post 4.65 EPS for the current year.

In other Analog Devices news, Director Edward H. Frank sold 8,460 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $113.42, for a total transaction of $959,533.20. Following the completion of the sale, the director now directly owns 19,775 shares in the company, valued at approximately $2,242,880.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Steve Pietkiewicz sold 3,710 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $123.29, for a total value of $457,405.90. Insiders sold a total of 14,325 shares of company stock worth $1,661,769 over the last ninety days. 0.42% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Analog Devices in the fourth quarter worth about $463,695,000. BlackRock Inc. grew its holdings in Analog Devices by 14.7% during the 1st quarter. BlackRock Inc. now owns 27,803,033 shares of the semiconductor company’s stock valued at $2,492,540,000 after buying an additional 3,571,383 shares in the last quarter. Invesco Ltd. raised its position in shares of Analog Devices by 39.1% during the first quarter. Invesco Ltd. now owns 4,322,089 shares of the semiconductor company’s stock valued at $387,476,000 after buying an additional 1,215,616 shares during the last quarter. Melvin Capital Management LP bought a new stake in shares of Analog Devices during the first quarter valued at approximately $94,133,000. Finally, Nuveen Asset Management LLC boosted its position in shares of Analog Devices by 42.1% during the fourth quarter. Nuveen Asset Management LLC now owns 2,530,995 shares of the semiconductor company’s stock worth $300,784,000 after acquiring an additional 749,971 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

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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