Analog Devices (NASDAQ:ADI) had its price target hoisted by Piper Jaffray Companies from $118.00 to $135.00 in a research note issued to investors on Tuesday, The Fly reports. Piper Jaffray Companies currently has an overweight rating on the semiconductor company’s stock.
ADI has been the topic of several other research reports. ValuEngine lowered shares of Virtu Financial from a hold rating to a sell rating in a report on Tuesday, June 18th. Goldman Sachs Group lowered shares of SUMCO CORP/ADR from a buy rating to a neutral rating in a report on Monday, June 10th. BidaskClub lowered shares of Orthofix Medical from a buy rating to a hold rating in a report on Monday, May 20th. SunTrust Banks reduced their target price on shares of Analog Devices to $122.00 and set a buy rating on the stock in a report on Thursday, May 23rd. Finally, Morgan Stanley set a $123.00 target price on shares of Lowe’s Companies and gave the company a buy rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $109.94.
ADI stock opened at $113.92 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.52. Analog Devices has a 52 week low of $76.62 and a 52 week high of $118.54. The firm’s fifty day simple moving average is $106.38. The company has a market cap of $42.16 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 1.75 and a beta of 1.43.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.06. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm earned $1.45 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts predict that Analog Devices will post 5.24 earnings per share for the current fiscal year.
In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.50, for a total value of $1,165,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward H. Frank sold 14,880 shares of the stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $110.51, for a total transaction of $1,644,388.80. Following the completion of the transaction, the director now owns 16,520 shares of the company’s stock, valued at $1,825,625.20. The disclosure for this sale can be found here. Insiders have sold a total of 98,256 shares of company stock valued at $10,476,068 in the last three months. 0.50% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of ADI. Deprince Race & Zollo Inc. boosted its position in Analog Devices by 4.1% in the fourth quarter. Deprince Race & Zollo Inc. now owns 296,328 shares of the semiconductor company’s stock valued at $25,434,000 after buying an additional 11,722 shares in the last quarter. Korea Investment CORP boosted its position in Analog Devices by 421.7% in the fourth quarter. Korea Investment CORP now owns 22,268 shares of the semiconductor company’s stock valued at $1,911,000 after buying an additional 18,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Analog Devices by 20.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,792,028 shares of the semiconductor company’s stock valued at $153,818,000 after buying an additional 302,982 shares in the last quarter. Neuburgh Advisers LLC boosted its position in Analog Devices by 2.1% in the fourth quarter. Neuburgh Advisers LLC now owns 18,898 shares of the semiconductor company’s stock valued at $1,622,000 after buying an additional 396 shares in the last quarter. Finally, Fort L.P. boosted its position in Analog Devices by 94.1% in the fourth quarter. Fort L.P. now owns 17,547 shares of the semiconductor company’s stock valued at $1,506,000 after buying an additional 8,506 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.
Analog Devices Company Profile
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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