Analog Devices (NASDAQ:ADI) Price Target Raised to $270.00 at TD Cowen

Analog Devices (NASDAQ:ADIGet Free Report) had its price objective boosted by TD Cowen from $210.00 to $270.00 in a report released on Thursday, Briefing.com reports. The firm currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price would indicate a potential upside of 12.43% from the stock’s current price.

Other research analysts have also issued research reports about the company. Bank of America lifted their target price on Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a report on Thursday. KeyCorp boosted their target price on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday. Truist Financial reduced their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Morgan Stanley reissued an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group boosted their target price on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.04.

View Our Latest Report on ADI

Analog Devices Stock Performance

Shares of ADI stock opened at $240.16 on Thursday. The stock has a market capitalization of $119.10 billion, a PE ratio of 42.96, a PEG ratio of 5.44 and a beta of 1.14. Analog Devices has a one year low of $154.99 and a one year high of $240.37. The business’s 50 day simple moving average is $199.12 and its 200 day simple moving average is $192.74. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADIGet Free Report) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.83 EPS. As a group, research analysts forecast that Analog Devices will post 5.85 earnings per share for the current year.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,057,745.34. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,874,613 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Analog Devices

A number of hedge funds have recently made changes to their positions in ADI. Norges Bank bought a new position in Analog Devices during the 4th quarter worth approximately $1,225,227,000. Swedbank AB bought a new position in Analog Devices during the 1st quarter worth approximately $537,171,000. Massachusetts Financial Services Co. MA raised its holdings in Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares during the last quarter. Vanguard Group Inc. raised its holdings in Analog Devices by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after purchasing an additional 1,753,536 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

About Analog Devices

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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.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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