Bank of America upgraded shares of Analog Devices (NASDAQ:ADI) from a neutral rating to a buy rating in a report issued on Monday morning, MarketBeat.com reports. They currently have $125.00 target price on the semiconductor company’s stock, up from their prior target price of $96.00.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Analog Devices from a sell rating to a hold rating in a research report on Tuesday, February 5th. Piper Jaffray Companies reiterated an outperform rating and issued a $112.00 price target on shares of Analog Devices in a report on Friday, February 1st. ValuEngine upgraded shares of Analog Devices from a hold rating to a buy rating in a research note on Friday, January 25th. BidaskClub upgraded shares of Analog Devices from a buy rating to a strong-buy rating in a research report on Wednesday, January 30th. Finally, Morgan Stanley lowered their price target on shares of Analog Devices from $102.00 to $100.00 and set an overweight rating on the stock in a research note on Wednesday, November 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $100.65.
Shares of ADI stock opened at $104.42 on Monday. Analog Devices has a one year low of $76.62 and a one year high of $105.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.50. The firm has a market cap of $38.43 billion, a PE ratio of 17.58, a PEG ratio of 1.50 and a beta of 1.24.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 20th. The semiconductor company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.03. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Analog Devices had a net margin of 24.12% and a return on equity of 20.88%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 earnings per share. On average, equities analysts forecast that Analog Devices will post 5.42 EPS for the current fiscal year.
In other news, SVP Prashanth Mahendra-Rajah sold 2,700 shares of Analog Devices stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $90.33, for a total transaction of $243,891.00. Following the completion of the sale, the senior vice president now directly owns 2,556 shares in the company, valued at $230,883.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Gregory N. Henderson sold 5,003 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $84.03, for a total transaction of $420,402.09. Following the sale, the senior vice president now directly owns 5,389 shares of the company’s stock, valued at approximately $452,837.67. The disclosure for this sale can be found here. Insiders have sold 35,803 shares of company stock valued at $3,264,080 in the last ninety days. Company insiders own 0.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in Analog Devices by 3.9% during the 2nd quarter. FMR LLC now owns 9,175,704 shares of the semiconductor company’s stock valued at $880,133,000 after purchasing an additional 348,581 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Analog Devices in the second quarter valued at $2,906,000. Lourd Capital LLC acquired a new stake in shares of Analog Devices in the 3rd quarter worth about $210,000. Delaney Dennis R grew its stake in shares of Analog Devices by 5.6% in the 3rd quarter. Delaney Dennis R now owns 15,590 shares of the semiconductor company’s stock worth $1,441,000 after purchasing an additional 825 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. lifted its stake in Analog Devices by 28.0% in the third quarter. Stock Yards Bank & Trust Co. now owns 102,001 shares of the semiconductor company’s stock valued at $9,431,000 after acquiring an additional 22,288 shares during the last quarter. Institutional investors and hedge funds own 90.66% of the company’s stock.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, and markets integrated circuits (ICs), algorithms, software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.
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