Analog Devices, Inc. (NASDAQ:ADI)‘s stock had its “overweight” rating restated by research analysts at Morgan Stanley in a research note issued to investors on Wednesday. They presently have a $98.00 price target on the semiconductor company’s stock. Morgan Stanley’s target price points to a potential upside of 17.10% from the company’s current price.
Several other analysts have also recently issued reports on the company. BidaskClub cut Analog Devices from a “buy” rating to a “hold” rating in a research note on Saturday, September 9th. B. Riley reaffirmed a “buy” rating and set a $110.00 price objective on shares of Analog Devices in a research report on Saturday, September 2nd. Citigroup Inc. reaffirmed a “neutral” rating and set a $88.00 price objective (down from $91.00) on shares of Analog Devices in a research report on Friday, September 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $100.00 price objective (up from $98.00) on shares of Analog Devices in a research report on Thursday, August 31st. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a research report on Wednesday, August 30th. Thirteen analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Analog Devices currently has a consensus rating of “Buy” and a consensus price target of $91.92.
Shares of Analog Devices (ADI) opened at 84.24 on Wednesday. The company’s 50 day moving average price is $80.41 and its 200 day moving average price is $80.16. The company has a market cap of $30.97 billion, a price-to-earnings ratio of 41.93 and a beta of 1.29. Analog Devices has a 12 month low of $59.54 and a 12 month high of $90.49.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.11. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. Analog Devices’s quarterly revenue was up 64.9% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share. On average, equities analysts expect that Analog Devices will post $4.62 EPS for the current fiscal year.
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In other Analog Devices news, Director Ray Stata sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $83.50, for a total value of $2,087,500.00. Following the completion of the sale, the director now directly owns 234,481 shares in the company, valued at $19,579,163.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $80.35, for a total transaction of $241,050.00. Following the completion of the sale, the senior vice president now owns 20,404 shares of the company’s stock, valued at $1,639,461.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,989 shares of company stock worth $8,544,424. Insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. MARSHALL WACE ASIA Ltd purchased a new position in shares of Analog Devices in the first quarter worth $63,309,000. Boston Family Office LLC raised its holdings in shares of Analog Devices by 37.9% during the second quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock worth $567,000 after purchasing an additional 2,004 shares during the last quarter. Norinchukin Bank The raised its holdings in shares of Analog Devices by 26.5% during the first quarter. Norinchukin Bank The now owns 23,650 shares of the semiconductor company’s stock worth $1,938,000 after purchasing an additional 4,956 shares during the last quarter. Prospera Financial Services Inc raised its holdings in shares of Analog Devices by 1.2% during the second quarter. Prospera Financial Services Inc now owns 21,196 shares of the semiconductor company’s stock worth $1,648,000 after purchasing an additional 253 shares during the last quarter. Finally, KCG Holdings Inc. raised its holdings in shares of Analog Devices by 455.1% during the first quarter. KCG Holdings Inc. now owns 24,624 shares of the semiconductor company’s stock worth $2,018,000 after purchasing an additional 20,188 shares during the last quarter. 86.67% of the stock is owned by institutional investors and hedge funds.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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