Analog Devices (NASDAQ:ADI) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Analog Devices (NASDAQ:ADI) had its price target raised by investment analysts at JPMorgan Chase & Co. from $310.00 to $320.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 22.97% from the company’s current price.

A number of other research analysts have also commented on ADI. BNP Paribas began coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price objective on the stock. Robert W. Baird set a $275.00 price target on Analog Devices in a research note on Wednesday. Barclays boosted their price objective on Analog Devices from $185.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 21st. Finally, BNP Paribas Exane began coverage on Analog Devices in a report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $281.87.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $8.21 during midday trading on Wednesday, reaching $260.23. 1,386,564 shares of the company traded hands, compared to its average volume of 3,804,438. The company has a market cap of $128.02 billion, a price-to-earnings ratio of 66.26, a PEG ratio of 1.98 and a beta of 1.09. The stock has a 50-day moving average price of $238.83 and a 200 day moving average price of $235.61. Analog Devices has a 52 week low of $158.65 and a 52 week high of $259.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.79.

Analog Devices (NASDAQ:ADI) last announced its 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 analyst estimates of $3.02 billion. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. Analog Devices’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 EPS. Sell-side analysts anticipate that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total value of $719,406.25. Following the completion of the transaction, the director owned 142,571 shares in the company, valued at $32,821,269.91. This trade represents a 2.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was 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 in the company, valued at approximately $38,447,218. The trade was a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 39,750 shares of company stock valued at $9,598,496. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Analog Devices

Hedge funds have recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after purchasing an additional 529 shares in the last quarter. LPL Financial LLC raised its position in Analog Devices by 11.0% during the first quarter. LPL Financial LLC now owns 528,072 shares of the semiconductor company’s stock valued at $106,496,000 after buying an additional 52,416 shares during the period. Prosperity Consulting Group LLC purchased a new stake in Analog Devices in the 1st quarter worth about $250,000. N.E.W. Advisory Services LLC purchased a new stake in Analog Devices in the 1st quarter worth about $33,000. Finally, Eastern Bank boosted its position in Analog Devices by 6.0% during the 1st quarter. Eastern Bank now owns 196,677 shares of the semiconductor company’s stock worth $39,664,000 after acquiring an additional 11,101 shares during the period. Hedge funds and other institutional investors 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.