Analog Devices (NASDAQ:ADI) Posts Quarterly Earnings Results

Analog Devices (NASDAQ:ADI) issued its quarterly earnings data on Tuesday. The semiconductor company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04, Zacks reports. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.

Analog Devices Price Performance

Analog Devices stock opened at $239.40 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32. The company has a market capitalization of $117.77 billion, a price-to-earnings ratio of 61.07, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. Analog Devices has a 1 year low of $158.65 and a 1 year high of $258.13. The company’s 50 day simple moving average is $238.67 and its 200-day simple moving average is $235.30.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ADI shares. Truist Financial lifted their target price on Analog Devices from $219.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, August 21st. BNP Paribas initiated coverage on shares of Analog Devices in a research report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price for the company. Evercore ISI upped their price target on Analog Devices from $280.00 to $303.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Wells Fargo & Company upped their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 21st. Finally, KeyCorp increased their target price on Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.42.

Insider Buying and Selling at Analog Devices

In related news, SVP Martin Cotter sold 12,500 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the completion of the transaction, the senior vice president owned 63,048 shares in the company, valued at approximately $15,525,570. The trade was a 16.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the transaction, the director directly owned 142,571 shares in the company, valued at $32,821,269.91. This trade represents a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 59,750 shares of company stock valued at $14,684,296 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Analog Devices

Large investors have recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Analog Devices by 39.5% during the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after buying an additional 529 shares during the period. Sivia Capital Partners LLC lifted its position in Analog Devices by 36.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company’s stock worth $417,000 after acquiring an additional 464 shares during the period. Ieq Capital LLC grew its stake in shares of Analog Devices by 38.0% in the 2nd quarter. Ieq Capital LLC now owns 44,576 shares of the semiconductor company’s stock valued at $10,610,000 after purchasing an additional 12,276 shares during the last quarter. HUB Investment Partners LLC purchased a new position in shares of Analog Devices in the 2nd quarter valued at approximately $644,000. Finally, Peapack Gladstone Financial Corp increased its holdings in shares of Analog Devices by 2.4% in the second quarter. Peapack Gladstone Financial Corp now owns 60,169 shares of the semiconductor company’s stock valued at $14,322,000 after purchasing an additional 1,406 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

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.