Barclays Raises Analog Devices (NASDAQ:ADI) Price Target to $210.00

Analog Devices (NASDAQ:ADI) had its price objective hoisted by Barclays from $185.00 to $210.00 in a report published on Monday, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

ADI has been the subject of a number of other reports. The Goldman Sachs Group increased their price target on Analog Devices from $191.00 to $205.00 and gave the company a buy rating in a research note on Thursday, February 22nd. KeyCorp increased their price target on Analog Devices from $220.00 to $230.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Morgan Stanley reissued an overweight rating and set a $212.00 price target on shares of Analog Devices in a research note on Thursday, April 11th. Jefferies Financial Group initiated coverage on Analog Devices in a research note on Monday, May 13th. They set a buy rating and a $250.00 price target for the company. Finally, Stifel Nicolaus increased their price target on Analog Devices from $220.00 to $240.00 and gave the company a buy rating in a research note on Monday. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $214.50.

Analog Devices Stock Performance

NASDAQ:ADI opened at $240.16 on Monday. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. Analog Devices has a 12-month low of $154.99 and a 12-month high of $240.37. The stock has a 50-day moving average price of $199.12 and a 200 day moving average price of $192.74. The stock has a market capitalization of $119.10 billion, a P/E ratio of 42.96, a P/E/G ratio of 5.47 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the business posted $2.83 earnings per share. The firm’s revenue was down 33.8% on a year-over-year basis. Equities research analysts forecast that Analog Devices will post 5.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,057,745.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 in the last ninety days. 0.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ADI. Pinnacle Bancorp Inc. boosted its position in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares in the last quarter. USA Financial Formulas boosted its position in shares of Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Cetera Trust Company N.A acquired a new stake in shares of Analog Devices in the 4th quarter worth $29,000. Private Wealth Management Group LLC acquired a new stake in shares of Analog Devices in the 4th quarter worth $29,000. Finally, Riverview Trust Co acquired a new stake in shares of Analog Devices in the 1st quarter worth $30,000. 86.81% of the stock is currently owned by hedge funds and other 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.