Analog Devices (NASDAQ:ADI) had its price target reduced by Morgan Stanley from $97.00 to $95.00 in a research note released on Monday, AnalystRatings.com reports. They currently have an equal weight rating on the semiconductor company’s stock.
A number of other analysts have also recently weighed in on ADI. BidaskClub raised shares of Analog Devices from a sell rating to a hold rating in a report on Tuesday, March 24th. Cfra reissued a hold rating and set a $125.00 price objective on shares of Analog Devices in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $115.00 to $134.00 and gave the company a neutral rating in a report on Thursday, February 20th. SunTrust Banks lifted their target price on shares of Analog Devices from $141.00 to $148.00 and gave the company a buy rating in a report on Thursday, February 20th. Finally, Sanford C. Bernstein cut their target price on shares of Analog Devices from $115.00 to $90.00 and set a market perform rating on the stock in a report on Thursday, March 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Analog Devices currently has a consensus rating of Buy and an average price target of $121.70.
ADI stock traded down $2.64 during midday trading on Monday, reaching $111.93. 1,427,326 shares of the company were exchanged, compared to its average volume of 2,321,319. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.08. Analog Devices has a 1-year low of $79.07 and a 1-year high of $127.30. The stock’s 50-day simple moving average is $101.43 and its 200 day simple moving average is $109.45. The company has a market cap of $39.15 billion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. Analog Devices had a net margin of 21.06% and a return on equity of 15.38%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was down 13.7% on a year-over-year basis. On average, research analysts anticipate that Analog Devices will post 4.3 earnings per share for the current year.
In related news, Director James Champy sold 4,100 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $123.00, for a total value of $504,300.00. Following the sale, the director now directly owns 12,535 shares in the company, valued at approximately $1,541,805. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Gregory N. Henderson sold 883 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $100.00, for a total transaction of $88,300.00. Following the completion of the sale, the senior vice president now owns 5,826 shares in the company, valued at $582,600. The disclosure for this sale can be found here. Insiders sold a total of 8,214 shares of company stock worth $932,401 over the last quarter. Insiders own 0.42% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ADI. Wealth Quarterback LLC acquired a new position in Analog Devices in the 4th quarter valued at about $3,265,410,000. Norges Bank acquired a new position in Analog Devices in the 4th quarter valued at about $463,695,000. BlackRock Inc. raised its stake in Analog Devices by 14.7% in the 1st quarter. BlackRock Inc. now owns 27,803,033 shares of the semiconductor company’s stock valued at $2,492,540,000 after purchasing an additional 3,571,383 shares during the last quarter. Invesco Ltd. raised its stake in Analog Devices by 39.1% in the 1st quarter. Invesco Ltd. now owns 4,322,089 shares of the semiconductor company’s stock valued at $387,476,000 after purchasing an additional 1,215,616 shares during the last quarter. Finally, FIL Ltd raised its stake in Analog Devices by 861,877.6% in the 4th quarter. FIL Ltd now owns 1,077,472 shares of the semiconductor company’s stock valued at $128,047,000 after purchasing an additional 1,077,347 shares during the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.
About Analog Devices
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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