BidaskClub upgraded shares of Analog Devices, Inc. (NASDAQ:ADI) from a hold rating to a buy rating in a report published on Saturday, October 7th.
A number of other analysts also recently issued reports on the stock. B. Riley reaffirmed a buy rating and set a $110.00 price target on shares of Analog Devices in a report on Sunday, August 27th. Royal Bank Of Canada raised their price target on shares of Analog Devices from $92.00 to $95.00 and gave the company an outperform rating in a report on Thursday, August 31st. ValuEngine downgraded shares of Analog Devices from a buy rating to a hold rating in a report on Thursday, September 21st. Raymond James Financial, Inc. started coverage on shares of Analog Devices in a report on Friday, June 16th. They set a market perform rating on the stock. Finally, Instinet raised shares of Analog Devices from a reduce rating to a neutral rating and raised their price target for the company from $72.50 to $80.00 in a report on Thursday, August 31st. Eleven analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Analog Devices currently has an average rating of Buy and a consensus price target of $93.65.
Analog Devices (NASDAQ ADI) opened at 88.80 on Friday. The stock has a market capitalization of $32.65 billion, a PE ratio of 44.20 and a beta of 1.30. The company’s 50-day moving average is $85.36 and its 200 day moving average is $80.85. Analog Devices has a 12-month low of $62.22 and a 12-month high of $90.49.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm posted $0.82 EPS. Analog Devices’s revenue for the quarter was up 64.9% on a year-over-year basis. On average, equities research analysts expect that Analog Devices will post $4.62 earnings per share for the current fiscal year.
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In other Analog Devices news, Director Ray Stata sold 25,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were 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 in the company, valued at $19,579,163.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $77.81, for a total transaction of $233,430.00. Following the completion of the transaction, the senior vice president now owns 20,404 shares of the company’s stock, valued at $1,587,635.24. The disclosure for this sale can be found here. Insiders sold 118,989 shares of company stock valued at $10,076,166 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of ADI. Waldron LP increased its holdings in shares of Analog Devices by 40.9% during the first quarter. Waldron LP now owns 4,166 shares of the semiconductor company’s stock valued at $341,000 after acquiring an additional 1,210 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Analog Devices during the first quarter valued at about $1,856,000. KBC Group NV increased its holdings in shares of Analog Devices by 42.8% during the first quarter. KBC Group NV now owns 62,596 shares of the semiconductor company’s stock valued at $5,130,000 after acquiring an additional 18,767 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Analog Devices by 19.6% during the first quarter. Prudential Financial Inc. now owns 515,116 shares of the semiconductor company’s stock valued at $42,214,000 after acquiring an additional 84,383 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Analog Devices by 149.2% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 44,713 shares of the semiconductor company’s stock valued at $3,664,000 after acquiring an additional 26,767 shares in the last quarter. Hedge funds and other institutional investors own 86.59% 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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