Analog Devices (NASDAQ:ADI) Price Target Raised to $300.00

Analog Devices (NASDAQ:ADI) had its target price boosted by analysts at UBS Group from $275.00 to $300.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price objective would indicate a potential upside of 21.81% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Benchmark upped their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial increased their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Piper Sandler decreased their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday. Finally, Morgan Stanley increased their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $252.19.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $246.30 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $122.19 billion, a price-to-earnings ratio of 74.91, a price-to-earnings-growth ratio of 2.53 and a beta of 1.04. Analog Devices has a twelve month low of $182.57 and a twelve month high of $244.14. The business has a 50 day simple moving average of $214.54 and a 200-day simple moving average of $219.80.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 earnings per share. As a group, equities research analysts expect that Analog Devices will post 7.09 earnings per share for the current year.

Analog Devices announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Analog Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADI. Charles Schwab Investment Management Inc. lifted its holdings in Analog Devices by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after buying an additional 39,186 shares during the period. Swiss National Bank grew its holdings in Analog Devices by 0.3% during the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after purchasing an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd increased its stake in Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp acquired a new stake in Analog Devices in the fourth quarter worth $460,000. Finally, Summit Global Investments bought a new position in shares of Analog Devices during the third quarter worth $867,000. 86.81% of the stock is owned by institutional investors.

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.