Truist Financial Increases Analog Devices (NASDAQ:ADI) Price Target to $214.00

Analog Devices (NASDAQ:ADIGet Rating) had its price objective raised by stock analysts at Truist Financial from $209.00 to $214.00 in a note issued to investors on Wednesday, The Fly reports. Truist Financial’s target price points to a potential upside of 26.48% from the company’s previous close.

A number of other brokerages have also recently commented on ADI. Needham & Company LLC cut Analog Devices from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Sanford C. Bernstein increased their price target on Analog Devices from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com began coverage on Analog Devices in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Cowen began coverage on Analog Devices in a research note on Tuesday, October 11th. They issued an “outperform” rating and a $180.00 price target for the company. Finally, Oppenheimer reiterated an “outperform” rating and issued a $210.00 price target on shares of Analog Devices in a research note on Friday, November 18th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.95.

Analog Devices Trading Up 0.5 %

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

Analog Devices (NASDAQ:ADIGet Rating) last issued its earnings results on Tuesday, November 22nd. The semiconductor company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.15. Analog Devices had a return on equity of 13.58% and a net margin of 22.88%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the business posted $1.73 EPS. The company’s revenue was up 38.8% compared to the same quarter last year. Equities analysts predict that Analog Devices will post 9.41 EPS for the current fiscal year.

Insider Activity

In other news, Director Tunc Doluca sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $150.00, for a total value of $360,000.00. Following the completion of the sale, the director now directly owns 69,157 shares in the company, valued at approximately $10,373,550. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.91% of the stock is currently owned by company insiders.

Institutional Trading of Analog Devices

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Analog Devices by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 45,878,473 shares of the semiconductor company’s stock valued at $6,392,707,000 after buying an additional 138,980 shares during the period. BlackRock Inc. boosted its stake in Analog Devices by 5.2% during the 3rd quarter. BlackRock Inc. now owns 42,266,420 shares of the semiconductor company’s stock valued at $5,889,403,000 after purchasing an additional 2,076,636 shares during the last quarter. State Street Corp boosted its stake in Analog Devices by 0.5% during the 3rd quarter. State Street Corp now owns 20,256,986 shares of the semiconductor company’s stock valued at $2,822,608,000 after purchasing an additional 92,672 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Analog Devices by 2.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,807,729 shares of the semiconductor company’s stock valued at $1,785,221,000 after purchasing an additional 218,505 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Analog Devices by 13.7% during the 1st quarter. Wellington Management Group LLP now owns 9,338,263 shares of the semiconductor company’s stock valued at $1,542,495,000 after purchasing an additional 1,125,178 shares during the last quarter. 85.22% of the stock is currently 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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