Analog Devices (NASDAQ:ADI) Rating Reiterated by Oppenheimer

Analog Devices (NASDAQ:ADI – Get a Free Report)The stock’s “outperform” rating was reaffirmed by analysts at Oppenheimer in a research report on Thursday, Benzinga reports. They currently have a $245.00 target price on the semiconductor company’s stock. Oppenheimer’s price target suggests a potential upside of 7.69% from the company’s previous close.

A number of other analysts have also recently commented on ADI. Stifel Nicolaus raised their target price on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Bank of America boosted their price objective on Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday. Sanford C. Bernstein upped their target price on shares of Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Finally, Susquehanna lifted their price objective on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research report on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.50, based on data from MarketBeat.

Check out our latest report on ADI

Analog Devices stock performance

Shares of ADI stock opened at $227.50 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.58, and a debt-to-equity ratio of 0.19. Analog Devices has a 52-week low of $154.99 and a 52-week high of $244.14. The stock has a 50-day moving average price of $226.62 and a 200-day moving average price of $210.99. The company has a market cap of $112.89 billion, a price-to-earnings ratio of 53.15, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08.

Analog Devices (NASDAQ:ADI – Get Free Report ) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. In the same quarter last year, the business posted EPS of $2.49. The company’s revenue for the quarter was down 24.8% year over year. research analysts predict that Analog Devices will post 6.24 EPS for the current fiscal year.

Insider buying and selling

In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Michael Sondel sold 4,830 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the transaction, the chief accounting officer now owns 10,547 shares in the company, valued at $2,495,209.26. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares in the company, valued at $16,198,239.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,642 shares of company stock worth $10,791,543. Corporate insiders own 0.31% of the company’s shares.

Institutional marketing of analog devices

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC raised its holdings in Analog Devices by 3.9% during the 4th quarter. International Assets Investment Management LLC now owns 4,710 shares of the semiconductor company’s stock valued at $935,000 after buying an additional 176 shares. of shares in the last quarter. JW Cole Advisors Inc. purchased a new stake in Analog Devices in the 4th quarter valued at approximately $203,000. Capital Investment Advisory Services LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $203,000. Illinois Municipal Retirement Fund boosted its stake in Analog Devices by 12.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 21,608 shares of the semiconductor company’s stock valued at $4,290,000 after purchasing an additional 2,432 shares during the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in Analog Devices by 9.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 15,838 shares of the semiconductor company’s stock valued at $3,145,000 after purchasing an additional 1,418 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s shares.

About Analog Devices

(Get a free report)

Analog Devices, Inc designs, manufactures, tests and markets integrated circuits (ICs), software and subsystem products in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products, which translate real-world analog signals into digital data, as well as the translation of digital data into analog signals; Power management and reference products for power conversion, driver monitoring, sequencing and power management applications in the automotive, communications, industrial and consumer markets; and power ICs that include performance simulation, integration and software design tools for precise power designs.

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