Analog Devices (NASDAQ:ADI) Given New $291.00 Price Target at Truist Financial

Analog Devices (NASDAQ:ADI) had its price target upped by research analysts at Truist Financial from $258.00 to $291.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. Truist Financial’s target price suggests a potential upside of 5.85% from the stock’s previous close.

A number of other research analysts have also issued reports on ADI. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 target price on shares of Analog Devices in a report on Tuesday. UBS Group raised their price objective on shares of Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Zacks Research cut shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Robert W. Baird increased their target price on shares of Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Finally, Benchmark restated a “buy” rating and issued a $285.00 price target on shares of Analog Devices in a research report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $287.22.

Analog Devices Trading Up 1.4%

Analog Devices stock opened at $274.92 on Friday. Analog Devices has a 12-month low of $158.65 and a 12-month high of $284.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. The stock has a market capitalization of $134.62 billion, a PE ratio of 60.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.04. The firm has a 50 day simple moving average of $249.19 and a 200-day simple moving average of $241.82.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.67 earnings per share. As a group, equities research analysts expect that Analog Devices will post 7.14 EPS for the current fiscal year.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 1,000 shares of Analog Devices stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the transaction, the director directly owned 5,118 shares in the company, valued at approximately $1,242,343.32. The trade was a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Martin Cotter sold 5,000 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $271.19, for a total value of $1,355,950.00. Following the completion of the sale, the senior vice president owned 59,664 shares of the company’s stock, valued at $16,180,280.16. The trade was a 7.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 40,419 shares of company stock worth $10,249,017. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Analog Devices

A number of large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Analog Devices during the second quarter valued at approximately $1,803,377,000. Amundi boosted its stake in shares of Analog Devices by 44.8% during the 3rd quarter. Amundi now owns 6,215,129 shares of the semiconductor company’s stock valued at $1,507,740,000 after buying an additional 1,922,302 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Analog Devices by 29.2% during the 3rd quarter. Raymond James Financial Inc. now owns 4,829,931 shares of the semiconductor company’s stock valued at $1,186,714,000 after acquiring an additional 1,091,004 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Analog Devices by 948.2% in the second quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock worth $258,487,000 after acquiring an additional 982,385 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Analog Devices by 47.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,745,985 shares of the semiconductor company’s stock worth $653,599,000 after acquiring an additional 882,909 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

About Analog Devices

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