Analog Devices (NASDAQ:ADI) Rating Reiterated by Oppenheimer

Analog Devices (NASDAQ:ADIGet Free Report)‘s stock had its “outperform” rating reissued by research analysts at Oppenheimer in a note issued to investors on Thursday, Benzinga reports. They currently have a $215.00 price target on the semiconductor company’s stock. Oppenheimer’s price target points to a potential upside of 13.09% from the stock’s current price.

Several other equities research analysts have also recently weighed in on ADI. Morgan Stanley reiterated an “overweight” rating and issued a $212.00 target price (down from $219.00) on shares of Analog Devices in a report on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a report on Tuesday. Edward Jones upgraded Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. The Goldman Sachs Group upped their price objective on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Truist Financial decreased their price objective on Analog Devices from $213.00 to $206.00 and set a “buy” rating for the company in a research note on Wednesday, November 22nd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $206.26.

Check Out Our Latest Stock Analysis on Analog Devices

Analog Devices Stock Performance

NASDAQ ADI opened at $190.11 on Thursday. The company has a market cap of $94.26 billion, a P/E ratio of 34.01, a P/E/G ratio of 2.90 and a beta of 1.19. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 1.51. The business’s 50 day moving average price is $192.65 and its 200-day moving average price is $182.36. Analog Devices has a fifty-two week low of $154.99 and a fifty-two week high of $202.77.

Analog Devices (NASDAQ:ADIGet Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.75 EPS. Sell-side analysts predict that Analog Devices will post 6.92 earnings per share for the current year.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $197.07, for a total value of $1,970,700.00. Following the transaction, the chief executive officer now owns 5,713 shares in the company, valued at $1,125,860.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $197.07, for a total transaction of $1,970,700.00. Following the transaction, the chief executive officer now owns 5,713 shares of the company’s stock, valued at approximately $1,125,860.91. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Vivek Jain sold 17,038 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $183.66, for a total transaction of $3,129,199.08. Following the completion of the transaction, the executive vice president now owns 5,815 shares in the company, valued at $1,067,982.90. The disclosure for this sale can be found here. Insiders have sold a total of 37,038 shares of company stock worth $7,020,999 over the last quarter. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Analog Devices by 0.7% during the second quarter. BlackRock Inc. now owns 40,771,080 shares of the semiconductor company’s stock worth $7,942,614,000 after acquiring an additional 266,357 shares during the last quarter. State Street Corp boosted its position in shares of Analog Devices by 1.6% during the second quarter. State Street Corp now owns 20,724,346 shares of the semiconductor company’s stock worth $4,037,310,000 after buying an additional 320,338 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Analog Devices by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after buying an additional 1,197,215 shares during the period. Invesco Ltd. boosted its position in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after buying an additional 701,367 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Analog Devices by 2.1% during the second quarter. Geode Capital Management LLC now owns 9,594,363 shares of the semiconductor company’s stock worth $1,864,499,000 after buying an additional 200,496 shares during the period. Institutional investors and hedge funds own 85.55% of the company’s stock.

Analog Devices Company Profile

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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.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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