Morgan Stanley Issues Pessimistic Forecast for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its price objective dropped by equities researchers at Morgan Stanley from $252.00 to $248.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 15.00% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday. Finally, Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $251.10.

Analog Devices Stock Down 1.5 %

Shares of ADI traded down $3.39 on Wednesday, reaching $215.66. The stock had a trading volume of 671,207 shares, compared to its average volume of 3,234,810. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices has a 12-month low of $179.63 and a 12-month high of $244.14. The firm has a market capitalization of $107.07 billion, a price-to-earnings ratio of 64.44, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08. The company has a 50-day simple moving average of $224.75 and a 200-day simple moving average of $225.92.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,995 shares of company stock worth $25,116,338. 0.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices during the third quarter valued at about $28,000. New Millennium Group LLC bought a new position in Analog Devices during the second quarter valued at approximately $29,000. Archer Investment Corp grew its holdings in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC increased its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares during the last quarter. Finally, CVA Family Office LLC raised its holdings in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. 86.81% of the stock is currently owned by 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.