Stifel Nicolaus Forecasts Strong Price Appreciation for Analog Devices (NASDAQ:ADI) Stock

Analog Devices (NASDAQ:ADI) had its target price upped by stock analysts at Stifel Nicolaus from $330.00 to $360.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 6.79% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Evercore lowered their price objective on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Bank of America upped their target price on shares of Analog Devices from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. KeyCorp boosted their price objective on shares of Analog Devices from $330.00 to $375.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $300.00 target price on shares of Analog Devices in a research note on Tuesday, November 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $318.35.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $337.10 on Tuesday. The business’s 50-day simple moving average is $297.14 and its 200-day simple moving average is $261.77. Analog Devices has a 52 week low of $158.65 and a 52 week high of $343.96. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The firm has a market cap of $164.72 billion, a price-to-earnings ratio of 73.93, a P/E/G ratio of 1.93 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.22 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.67 earnings per share. As a group, equities research analysts expect that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $317.30, for a total value of $991,562.50. Following the completion of the transaction, the director directly owned 123,821 shares of the company’s stock, valued at approximately $39,288,403.30. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the transaction, the chief accounting officer owned 18,913 shares in the company, valued at $5,258,381.39. The trade was a 30.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,544 shares of company stock valued at $15,320,417 in the last 90 days. 0.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC bought a new stake in shares of Analog Devices during the fourth quarter worth $26,000. Gordian Capital Singapore Pte Ltd bought a new stake in Analog Devices during the 4th quarter worth about $27,000. Howard Hughes Medical Institute acquired a new position in Analog Devices during the 2nd quarter valued at about $25,000. Entrust Financial LLC acquired a new position in Analog Devices during the 4th quarter valued at about $33,000. Finally, Albion Financial Group UT boosted its stake in shares of Analog Devices by 41.4% in the 4th quarter. Albion Financial Group UT now owns 123 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 36 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.