Analog Devices (NASDAQ:ADI) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Analog Devices (NASDAQ:ADI) had its target price raised by analysts at Morgan Stanley from $248.00 to $250.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price target would indicate a potential upside of 3.45% from the company’s previous close.

Other research analysts have also issued reports about the stock. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday. Piper Sandler decreased their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Truist Financial upped their target price on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Finally, Barclays decreased their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $250.05.

Analog Devices Trading Up 9.7 %

ADI stock opened at $241.66 on Thursday. The firm has a fifty day moving average price of $214.54 and a 200 day moving average price of $219.80. Analog Devices has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The firm has a market cap of $119.89 billion, a PE ratio of 73.45, a price-to-earnings-growth ratio of 2.46 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $1.73 EPS. Sell-side analysts anticipate that Analog Devices will post 7.09 earnings per share for the current fiscal year.

Analog Devices announced that its board has authorized a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several institutional investors and hedge funds have recently bought and sold shares of ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the 3rd quarter worth $28,000. Orion Capital Management LLC purchased a new stake in Analog Devices in the fourth quarter valued at about $27,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices in the fourth quarter valued at about $30,000. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC grew its stake in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 55 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

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.