TD Cowen Has Lowered Expectations for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its target price dropped by equities researchers at TD Cowen from $270.00 to $260.00 in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price would indicate a potential upside of 18.69% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Oppenheimer reiterated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Bank of America reduced their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $251.55.

Analog Devices Price Performance

NASDAQ:ADI opened at $219.05 on Wednesday. The firm has a market cap of $108.76 billion, a P/E ratio of 65.78, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08. The stock has a 50 day moving average of $224.75 and a two-hundred day moving average of $225.92. Analog Devices has a 12 month low of $179.63 and a 12 month high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,995 shares of company stock worth $25,116,338. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Analog Devices

Several large investors have recently modified their holdings of ADI. Tidal Investments LLC grew its position in Analog Devices by 9.9% in the 3rd quarter. Tidal Investments LLC now owns 24,314 shares of the semiconductor company’s stock valued at $5,596,000 after buying an additional 2,188 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Analog Devices by 13.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 113,055 shares of the semiconductor company’s stock worth $26,022,000 after acquiring an additional 13,788 shares during the period. Sfmg LLC increased its stake in shares of Analog Devices by 64.9% during the third quarter. Sfmg LLC now owns 2,252 shares of the semiconductor company’s stock worth $518,000 after acquiring an additional 886 shares during the period. World Investment Advisors LLC raised its holdings in Analog Devices by 4,581.5% during the third quarter. World Investment Advisors LLC now owns 42,180 shares of the semiconductor company’s stock worth $9,709,000 after purchasing an additional 41,279 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in Analog Devices by 0.9% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,680 shares of the semiconductor company’s stock worth $1,768,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors 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.