Cantor Fitzgerald Raises Analog Devices (NASDAQ:ADI) Price Target to $250.00

Analog Devices (NASDAQ:ADI) had its price target hoisted by equities researchers at Cantor Fitzgerald from $230.00 to $250.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 11.17% from the stock’s current price.

ADI has been the topic of several other research reports. Morgan Stanley set a $214.00 target price on shares of Analog Devices in a report on Monday, April 21st. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price objective on Analog Devices from $275.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Truist Financial boosted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Finally, Benchmark raised their price objective on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $249.95.

Analog Devices Price Performance

ADI stock traded down $2.23 during midday trading on Monday, reaching $224.88. The company had a trading volume of 369,126 shares, compared to its average volume of 3,505,708. The firm has a 50-day moving average price of $196.58 and a 200-day moving average price of $210.33. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a market capitalization of $111.54 billion, a P/E ratio of 71.83, a P/E/G ratio of 2.85 and a beta of 0.98. Analog Devices has a 1 year low of $158.65 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $1.73 earnings per share. On average, research analysts anticipate that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has approved a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the transaction, the chief executive officer now directly owns 142,996 shares of the company’s stock, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the transaction, the director now owns 180,071 shares of the company’s stock, valued at approximately $35,265,104.64. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock worth $8,735,156 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Activest Wealth Management increased its position in Analog Devices by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter worth approximately $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices in the 4th quarter worth approximately $27,000. Alpine Bank Wealth Management purchased a new position in shares of Analog Devices during the 1st quarter worth $27,000. Finally, Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $30,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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.