Analog Devices (NASDAQ:ADI) PT Raised to $190.00

Analog Devices (NASDAQ:ADIGet Rating) had its target price hoisted by equities researchers at Cowen from $180.00 to $190.00 in a report issued on Wednesday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Cowen’s price target would indicate a potential upside of 12.29% from the company’s previous close.

A number of other analysts have also weighed in on the company. Credit Suisse Group restated a “neutral” rating and set a $185.00 target price on shares of Analog Devices in a report on Wednesday, November 16th. Oppenheimer reiterated an “outperform” rating and set a $210.00 price objective on shares of Analog Devices in a report on Friday, November 18th. Barclays raised their target price on Analog Devices from $140.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup increased their price target on Analog Devices from $192.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Finally, Truist Financial increased their price target on Analog Devices from $209.00 to $214.00 in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $190.95.

Analog Devices Stock Up 0.5 %

Shares of NASDAQ:ADI opened at $169.20 on Wednesday. Analog Devices has a 52-week low of $133.48 and a 52-week high of $188.20. The stock has a market cap of $87.03 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The business’s 50 day moving average is $148.04 and its 200 day moving average is $155.09. The company has a quick ratio of 1.43, a current ratio of 2.02 and a debt-to-equity ratio of 0.18.

Analog Devices (NASDAQ:ADIGet Rating) last announced its quarterly earnings data on Tuesday, November 22nd. The semiconductor company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.15. Analog Devices had a return on equity of 13.58% and a net margin of 22.88%. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the firm earned $1.73 earnings per share. Analog Devices’s revenue was up 38.8% compared to the same quarter last year. Sell-side analysts predict that Analog Devices will post 9.41 EPS for the current year.

Insiders Place Their Bets

In other news, Director Tunc Doluca sold 1,700 shares of the firm’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $160.00, for a total value of $272,000.00. Following the transaction, the director now owns 68,657 shares of the company’s stock, valued at approximately $10,985,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Horan Securities Inc. lifted its position in shares of Analog Devices by 101.2% in the 1st quarter. Horan Securities Inc. now owns 163 shares of the semiconductor company’s stock worth $27,000 after buying an additional 82 shares during the last quarter. Core Alternative Capital lifted its position in Analog Devices by 333.3% in the 1st quarter. Core Alternative Capital now owns 182 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 140 shares during the last quarter. Coston McIsaac & Partners bought a new stake in shares of Analog Devices during the 2nd quarter worth about $27,000. Mark Sheptoff Financial Planning LLC raised its position in shares of Analog Devices by 2,222.2% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 209 shares of the semiconductor company’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Finally, Worth Asset Management LLC bought a new stake in shares of Analog Devices during the 1st quarter worth about $33,000. 85.22% of the stock is owned by institutional investors and hedge funds.

Analog Devices Company Profile

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs 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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