Analog Devices (NASDAQ:ADI) Stock Rating Lowered by Wall Street Zen

Analog Devices (NASDAQ:ADI) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price objective on Analog Devices from $310.00 to $320.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. BNP Paribas initiated coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price for the company. Robert W. Baird raised their price target on shares of Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 26th. Truist Financial lifted their price objective on shares of Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a report on Friday, December 19th. Finally, Piper Sandler set a $290.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.22.

Analog Devices Trading Down 0.3%

ADI stock opened at $276.84 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. Analog Devices has a twelve month low of $158.65 and a twelve month high of $284.23. The stock has a market capitalization of $135.55 billion, a price-to-earnings ratio of 60.71, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03. The firm’s fifty day simple moving average is $254.03 and its two-hundred day simple moving average is $244.34.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices will post 7.14 earnings per share for the current year.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $279.39, for a total value of $873,093.75. Following the transaction, the director owned 136,321 shares in the company, valued at $38,086,724.19. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward H. Frank sold 1,000 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the sale, the director directly owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. The trade was a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,419 shares of company stock valued at $10,249,017 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently modified their holdings of ADI. Solstein Capital LLC lifted its holdings in shares of Analog Devices by 2.0% during the second quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock worth $549,000 after purchasing an additional 46 shares during the period. Voya Investment Management LLC increased its stake in Analog Devices by 22.3% in the 3rd quarter. Voya Investment Management LLC now owns 1,293,403 shares of the semiconductor company’s stock valued at $317,789,000 after buying an additional 236,211 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Analog Devices by 7.7% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,001,839 shares of the semiconductor company’s stock worth $238,458,000 after buying an additional 71,735 shares during the last quarter. West Family Investments Inc. acquired a new stake in shares of Analog Devices in the 2nd quarter worth $376,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Analog Devices by 13.7% in the second quarter. Nisa Investment Advisors LLC now owns 203,286 shares of the semiconductor company’s stock valued at $48,386,000 after acquiring an additional 24,425 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.