Analog Devices (NASDAQ:ADI) Receives “Buy” Rating from Benchmark

Analog Devices (NASDAQ:ADI)‘s stock had its “buy” rating reaffirmed by investment analysts at Benchmark in a report released on Wednesday,Benzinga reports. They currently have a $285.00 price objective on the semiconductor company’s stock. Benchmark’s target price points to a potential upside of 13.09% from the stock’s current price.

A number of other research firms also recently issued reports on ADI. KeyCorp increased their target price on shares of Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. BNP Paribas initiated coverage on shares of Analog Devices in a research report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. Evercore ISI set a $282.00 target price on shares of Analog Devices and gave the company an “outperform” rating in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 21st. Finally, Morgan Stanley raised their price objective on Analog Devices from $273.00 to $288.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $281.62.

Analog Devices Trading Up 5.3%

ADI stock opened at $252.02 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. The company has a market cap of $123.98 billion, a price-to-earnings ratio of 64.29, a PEG ratio of 1.98 and a beta of 1.09. The business has a fifty day simple moving average of $238.83 and a 200-day simple moving average of $235.61. Analog Devices has a 52 week low of $158.65 and a 52 week high of $258.13.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.67 earnings per share. On average, equities research analysts expect that Analog Devices will post 7.14 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total value of $719,406.25. Following the transaction, the director owned 142,571 shares in the company, valued at approximately $32,821,269.91. The trade was a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total value of $2,349,500.00. Following the sale, the chief executive officer owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. This trade represents a 5.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 39,750 shares of company stock valued at $9,598,496 in the last three months. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors have recently modified their holdings of the stock. Howard Hughes Medical Institute bought a new stake in Analog Devices in the second quarter valued at about $25,000. Activest Wealth Management increased its holdings in shares of Analog Devices by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 127 shares during the last quarter. RMG Wealth Management LLC acquired a new stake in shares of Analog Devices during the 2nd quarter valued at approximately $26,000. Clayton Financial Group LLC acquired a new stake in shares of Analog Devices during the 3rd quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd bought a new position in Analog Devices during the third quarter worth $32,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

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.