BidaskClub lowered shares of Analog Devices, Inc. (NASDAQ:ADI) from a buy rating to a hold rating in a report issued on Friday morning.
A number of other brokerages have also recently commented on ADI. Citigroup Inc. reiterated a neutral rating and issued a $88.00 price target (down previously from $91.00) on shares of Analog Devices in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a buy rating and issued a $92.00 price target on shares of Analog Devices in a research note on Friday, August 4th. Robert W. Baird reiterated an outperform rating and issued a $100.00 price target (up previously from $98.00) on shares of Analog Devices in a research note on Thursday, August 31st. Instinet upgraded shares of Analog Devices from a reduce rating to a neutral rating and increased their price target for the company from $72.50 to $80.00 in a research note on Thursday, August 31st. Finally, B. Riley restated a buy rating and set a $110.00 target price on shares of Analog Devices in a research note on Saturday, September 2nd. Twelve research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $93.65.
Shares of Analog Devices (NASDAQ:ADI) opened at $90.03 on Friday. The company has a market cap of $32,939.35, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.99 and a quick ratio of 1.52. Analog Devices has a 12 month low of $65.33 and a 12 month high of $92.96.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The company’s revenue for the quarter was up 64.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. equities research analysts expect that Analog Devices will post 4.6 EPS for the current year.
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In other Analog Devices news, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $77.81, for a total value of $233,430.00. Following the transaction, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $1,587,635.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Champy sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $85.00, for a total transaction of $850,000.00. Following the completion of the transaction, the director now directly owns 20,185 shares in the company, valued at $1,715,725. The disclosure for this sale can be found here. Insiders sold a total of 135,994 shares of company stock valued at $11,604,048 in the last quarter. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ADI. Tudor Investment Corp ET AL bought a new position in Analog Devices in the 1st quarter valued at about $391,000. SPF Beheer BV grew its holdings in shares of Analog Devices by 2.0% during the 2nd quarter. SPF Beheer BV now owns 857,972 shares of the semiconductor company’s stock valued at $66,750,000 after purchasing an additional 16,739 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in shares of Analog Devices by 10.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 78,944 shares of the semiconductor company’s stock valued at $6,142,000 after purchasing an additional 7,519 shares during the last quarter. Factory Mutual Insurance Co. grew its holdings in shares of Analog Devices by 41.9% during the 2nd quarter. Factory Mutual Insurance Co. now owns 606,082 shares of the semiconductor company’s stock valued at $47,153,000 after purchasing an additional 179,000 shares during the last quarter. Finally, Capstone Asset Management Co. grew its holdings in shares of Analog Devices by 1.6% during the 2nd quarter. Capstone Asset Management Co. now owns 124,543 shares of the semiconductor company’s stock valued at $9,689,000 after purchasing an additional 1,936 shares during the last quarter. 86.42% of the stock is currently owned by hedge funds and other institutional investors.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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