Analog Devices (NASDAQ:ADI) Stock Price Up 0.2% – Still a Buy?

Analog Devices, Inc. (NASDAQ:ADI)’s share price rose 0.2% on Tuesday . The company traded as high as $233.55 and last traded at $224.01. Approximately 2,172,232 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 3,225,480 shares. The stock had previously closed at $223.58.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADI. Wells Fargo & Company began coverage on Analog Devices in a research report on Friday. They set an “equal weight” rating and a $220.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Morgan Stanley increased their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.05.

Analog Devices Stock Down 2.9 %

The company has a market capitalization of $107.79 billion, a price-to-earnings ratio of 67.27, a PEG ratio of 3.02 and a beta of 1.08. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm’s 50 day simple moving average is $224.88 and its 200-day simple moving average is $225.84.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,672,108.91. This trade represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,995 shares of company stock worth $25,116,338 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Analog Devices

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

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.