Barclays Raises Analog Devices (NASDAQ:ADI) Price Target to $210.00

Analog Devices (NASDAQ:ADIFree Report) had its target price boosted by Barclays from $185.00 to $210.00 in a report published on Monday, Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on the stock. Evercore ISI initiated coverage on shares of Analog Devices in a research report on Tuesday, April 16th. They set an outperform rating and a $254.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Morgan Stanley restated an overweight rating and set a $212.00 price objective on shares of Analog Devices in a research report on Thursday, April 11th. KeyCorp upped their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Finally, Truist Financial cut their price objective on shares of Analog Devices from $226.00 to $222.00 and set a buy rating for the company in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of Moderate Buy and an average price target of $214.50.

View Our Latest Analysis on Analog Devices

Analog Devices Stock Up 10.9 %

ADI stock opened at $240.16 on Monday. The company has a fifty day moving average price of $199.12 and a 200 day moving average price of $192.74. Analog Devices has a 12 month low of $154.99 and a 12 month high of $240.37. The company has a market cap of $119.10 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 5.47 and a beta of 1.14. 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 quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the firm earned $2.83 EPS. Analog Devices’s revenue for the quarter was down 33.8% on a year-over-year basis. Sell-side analysts expect that Analog Devices will post 5.85 earnings per share for the current year.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of the 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 sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,707 shares of company stock valued at $4,874,613. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Hedge funds have recently modified their holdings of the company. Girard Partners LTD. lifted its holdings in shares of Analog Devices by 2.8% during the 3rd quarter. Girard Partners LTD. now owns 10,398 shares of the semiconductor company’s stock worth $1,821,000 after acquiring an additional 287 shares during the period. Dai ichi Life Insurance Company Ltd lifted its holdings in shares of Analog Devices by 15.3% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 18,370 shares of the semiconductor company’s stock worth $3,216,000 after acquiring an additional 2,438 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Analog Devices by 30.1% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 4,434 shares of the semiconductor company’s stock worth $776,000 after acquiring an additional 1,025 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Analog Devices by 8.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 177,763 shares of the semiconductor company’s stock valued at $29,214,000 after buying an additional 14,198 shares during the period. Finally, Bahl & Gaynor Inc. raised its holdings in Analog Devices by 20.7% in the third quarter. Bahl & Gaynor Inc. now owns 283,957 shares of the semiconductor company’s stock valued at $49,718,000 after buying an additional 48,756 shares during the period. 86.81% of the stock is 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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