Barclays Has Lowered Expectations for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its target price reduced by stock analysts at Barclays from $250.00 to $210.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price indicates a potential downside of 2.33% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company started coverage on Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Morgan Stanley lowered their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, Truist Financial increased their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $247.57.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $215.02 on Friday. Analog Devices has a 52 week low of $182.57 and a 52 week high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The firm has a market cap of $106.71 billion, a P/E ratio of 65.36, a P/E/G ratio of 2.43 and a beta of 1.05. The business’s 50 day moving average price is $216.03 and its 200 day moving average price is $222.66.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the firm earned $2.01 EPS. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, sell-side analysts expect that Analog Devices will post 7.09 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently bought and sold shares of ADI. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $28,000. Archer Investment Corp grew its position in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the period. Peterson Financial Group Inc. acquired a new stake in Analog Devices during the third quarter worth $43,000. Reston Wealth Management LLC purchased a new stake in Analog Devices in the third quarter valued at $48,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Analog Devices in the third quarter valued at $80,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

About Analog Devices

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.