BidaskClub downgraded shares of Analog Devices, Inc. (NASDAQ:ADI) from a buy rating to a hold rating in a research report report published on Friday.
A number of other equities analysts also recently commented on ADI. Royal Bank Of Canada reissued a buy rating and set a $92.00 price objective on shares of Analog Devices in a research report on Friday, August 4th. B. Riley reissued a buy rating and set a $110.00 price objective on shares of Analog Devices in a research report on Sunday, August 27th. Stifel Nicolaus reissued a buy rating and set a $97.00 price objective on shares of Analog Devices in a research report on Monday, September 25th. Instinet raised Analog Devices from a reduce rating to a neutral rating and boosted their price objective for the stock from $72.50 to $80.00 in a research report on Thursday, August 31st. Finally, ValuEngine downgraded Analog Devices from a buy rating to a hold rating in a research report on Thursday, September 21st. Twelve equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Analog Devices currently has a consensus rating of Buy and a consensus price target of $93.65.
Analog Devices (NASDAQ ADI) traded down $0.11 during midday trading on Friday, reaching $89.59. The company’s stock had a trading volume of 2,736,300 shares, compared to its average volume of 2,941,108. The firm has a market cap of $32,939.35, a P/E ratio of 20.93, a P/E/G ratio of 1.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.52 and a current ratio of 1.99. Analog Devices has a 52 week low of $64.11 and a 52 week high of $92.96.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. Analog Devices’s revenue was up 64.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. sell-side analysts anticipate that Analog Devices will post 4.6 EPS for the current fiscal year.
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In related news, Director Ray Stata sold 25,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the transaction, the director now owns 234,481 shares of the company’s stock, valued at $19,579,163.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $77.81, for a total value of $233,430.00. Following the transaction, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,587,635.24. The disclosure for this sale can be found here. Insiders have sold 135,994 shares of company stock valued at $11,604,048 in the last 90 days. Company insiders own 1.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. grew its holdings in Analog Devices by 51.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 475 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in Analog Devices during the second quarter worth $119,000. WFG Advisors LP grew its holdings in Analog Devices by 26.4% during the second quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after acquiring an additional 330 shares during the period. Rockefeller Financial Services Inc. grew its holdings in Analog Devices by 7,478.3% during the second quarter. Rockefeller Financial Services Inc. now owns 1,743 shares of the semiconductor company’s stock worth $136,000 after acquiring an additional 1,720 shares during the period. Finally, NEXT Financial Group Inc grew its holdings in Analog Devices by 64.4% during the third quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock worth $136,000 after acquiring an additional 600 shares during the period. 86.42% of the stock is currently owned by hedge funds and other institutional investors.
Analog Devices Company Profile
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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