Analog Devices (NASDAQ:ADI) Given New $320.00 Price Target at JPMorgan Chase & Co.

Analog Devices (NASDAQ:ADI) had its target price raised by JPMorgan Chase & Co. from $310.00 to $320.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 22.97% from the stock’s current price.

A number of other research firms also recently weighed in on ADI. Evercore ISI cut their price target on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating on the stock in a report on Tuesday. Barclays boosted their price target on Analog Devices from $185.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 21st. Robert W. Baird set a $275.00 price objective on Analog Devices in a report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Analog Devices in a report on Wednesday, November 19th. Finally, BNP Paribas initiated coverage on Analog Devices in a report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $281.87.

Analog Devices Stock Up 3.3%

Shares of NASDAQ ADI traded up $8.21 during mid-day trading on Wednesday, reaching $260.23. The company had a trading volume of 1,386,564 shares, compared to its average volume of 3,804,438. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32. Analog Devices has a twelve month low of $158.65 and a twelve month high of $259.51. The stock’s 50 day moving average is $238.83 and its 200-day moving average is $235.61. The stock has a market capitalization of $128.02 billion, a PE ratio of 66.26, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, equities analysts anticipate that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the transaction, the director directly owned 142,571 shares in the company, valued at $32,821,269.91. This represents a 2.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Martin Cotter sold 12,500 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the completion of the sale, the senior vice president directly owned 63,048 shares of the company’s stock, valued at approximately $15,525,570. This trade represents a 16.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,750 shares of company stock valued at $9,598,496 over the last ninety days. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in Analog Devices by 39.5% during the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after acquiring an additional 529 shares during the period. LPL Financial LLC lifted its position in shares of Analog Devices by 11.0% in the 1st quarter. LPL Financial LLC now owns 528,072 shares of the semiconductor company’s stock worth $106,496,000 after acquiring an additional 52,416 shares during the period. Prosperity Consulting Group LLC acquired a new stake in shares of Analog Devices during the 1st quarter worth approximately $250,000. N.E.W. Advisory Services LLC bought a new stake in shares of Analog Devices during the first quarter valued at approximately $33,000. Finally, Eastern Bank raised its stake in shares of Analog Devices by 6.0% in the first quarter. Eastern Bank now owns 196,677 shares of the semiconductor company’s stock valued at $39,664,000 after purchasing an additional 11,101 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Company Profile

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.