Analog Devices (NASDAQ:ADI) Receives “Hold” Rating from Needham & Company LLC

Analog Devices (NASDAQ:ADI)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports.

Several other analysts also recently issued reports on ADI. Bank of America reduced their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley boosted their price objective 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Finally, Oppenheimer reissued an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.05.

Analog Devices Stock Down 2.0 %

ADI stock opened at $219.05 on Wednesday. The company has a market cap of $108.76 billion, a P/E ratio of 65.78, a P/E/G ratio of 3.15 and a beta of 1.08. Analog Devices has a 52 week low of $179.63 and a 52 week high of $244.14. The company’s 50-day moving average price is $224.75 and its 200 day moving average price is $225.92. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,995 shares of company stock valued at $25,116,338 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after acquiring an additional 39,186 shares during the last quarter. Swiss National Bank boosted its stake in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after acquiring an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after acquiring an additional 7,386 shares during the last quarter. Summit Global Investments bought a new position in Analog Devices during the 3rd quarter valued at $867,000. Finally, Versor Investments LP bought a new position in Analog Devices during the 3rd quarter valued at $952,000. 86.81% of the stock is currently owned by institutional investors.

About Analog Devices

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.