Analog Devices (NASDAQ:ADI) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Analog Devices (NASDAQ:ADI) had its target price increased by research analysts at Stifel Nicolaus from $248.00 to $270.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 11.89% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Williams Trading set a $260.00 target price on Analog Devices in a report on Friday, May 23rd. Wells Fargo & Company set a $235.00 price objective on Analog Devices and gave the stock an “equal weight” rating in a report on Monday, June 16th. Piper Sandler dropped their price objective on Analog Devices from $240.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Cfra Research downgraded Analog Devices from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald upgraded Analog Devices from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $250.00 to $270.00 in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $258.89.

Analog Devices Trading Up 0.1%

NASDAQ:ADI traded up $0.34 during mid-day trading on Friday, reaching $241.31. The company’s stock had a trading volume of 381,277 shares, compared to its average volume of 3,586,608. The company’s fifty day simple moving average is $229.40 and its two-hundred day simple moving average is $214.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. Analog Devices has a twelve month low of $158.65 and a twelve month high of $247.73. The stock has a market cap of $119.75 billion, a P/E ratio of 65.82, a P/E/G ratio of 2.22 and a beta of 1.02.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company’s revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 EPS. On average, equities analysts predict that Analog Devices will post 7.14 EPS for the current year.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the transaction, the director owned 180,071 shares in the company, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer owned 142,996 shares of the company’s stock, valued at $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Institutional Trading of Analog Devices

Several institutional investors have recently modified their holdings of the company. Orion Capital Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $27,000. Menard Financial Group LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $27,000. Activest Wealth Management raised its position in Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 127 shares during the period. Alpine Bank Wealth Management acquired a new position in Analog Devices during the first quarter valued at $27,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Analog Devices during the first quarter valued at $33,000. 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.