Analog Devices, Inc. (NASDAQ:ADI) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, November 10th.
A number of other analysts also recently weighed in on the stock. Drexel Hamilton reissued a “buy” rating and set a $105.00 price target on shares of Analog Devices in a research report on Wednesday, August 30th. Jefferies Group LLC restated a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a report on Thursday, October 19th. Citigroup Inc. reiterated a “neutral” rating and set a $88.00 price target (down from $91.00) on shares of Analog Devices in a report on Friday, September 1st. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Tuesday, October 10th. Finally, BMO Capital Markets restated an “outperform” rating and set a $100.00 price objective (up from $96.00) on shares of Analog Devices in a research report on Tuesday, August 29th. Twelve investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $94.19.
Analog Devices (NASDAQ ADI) opened at $88.65 on Friday. Analog Devices has a 1-year low of $68.42 and a 1-year high of $93.99. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.52. The company has a market cap of $33,159.95, a P/E ratio of 19.27, a P/E/G ratio of 1.75 and a beta of 1.32.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.09. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $1.05 earnings per share. Analog Devices’s revenue for the quarter was up 53.4% on a year-over-year basis. equities analysts expect that Analog Devices will post 4.96 EPS for the current fiscal year.
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In other Analog Devices news, Director Ray Stata sold 25,000 shares of Analog Devices stock in a transaction on Friday, September 15th. The stock was sold at an average price of $83.50, for a total value of $2,087,500.00. Following the completion of the transaction, the director now directly owns 234,481 shares of the company’s stock, valued at approximately $19,579,163.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Peter Real sold 4,505 shares of Analog Devices stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $82.13, for a total value of $369,995.65. Following the completion of the transaction, the senior vice president now directly owns 13,531 shares of the company’s stock, valued at $1,111,301.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,994 shares of company stock valued at $11,370,618. Insiders own 1.10% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Boston Family Office LLC grew its position in Analog Devices by 37.9% during the 2nd quarter. Boston Family Office LLC now owns 7,287 shares of the semiconductor company’s stock worth $567,000 after acquiring an additional 2,004 shares during the last quarter. Prospera Financial Services Inc grew its position in Analog Devices by 1.2% during the 2nd quarter. Prospera Financial Services Inc now owns 21,196 shares of the semiconductor company’s stock worth $1,648,000 after acquiring an additional 253 shares during the last quarter. Captrust Financial Advisors bought a new stake in Analog Devices during the 2nd quarter worth $1,130,000. Trust Co. of Vermont grew its position in Analog Devices by 8.3% during the 2nd quarter. Trust Co. of Vermont now owns 35,491 shares of the semiconductor company’s stock worth $2,762,000 after acquiring an additional 2,707 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Analog Devices by 4.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,207,893 shares of the semiconductor company’s stock worth $171,774,000 after acquiring an additional 94,804 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.
About Analog Devices
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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