Stifel Nicolaus Cuts Analog Devices (NASDAQ:ADI) Price Target to $225.00

Analog Devices (NASDAQ:ADI) had its price objective dropped by investment analysts at Stifel Nicolaus from $275.00 to $225.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 27.89% from the company’s previous close.

ADI has been the topic of a number of other research reports. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Lake Street Capital began coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Wells Fargo & Company increased their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. UBS Group raised their price target on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Citigroup decreased their target price on shares of Analog Devices from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.05.

Analog Devices Stock Performance

Shares of ADI stock opened at $175.93 on Thursday. The company has a market cap of $87.26 billion, a price-to-earnings ratio of 56.03, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. Analog Devices has a 52 week low of $158.65 and a 52 week high of $247.10. The firm has a 50 day moving average of $207.12 and a 200-day moving average of $215.03. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

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

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

Insider Activity at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,684 shares of company stock valued at $5,591,600 over the last 90 days. Insiders own 0.33% of the company’s stock.

Institutional Trading of Analog Devices

Large investors have recently bought and sold shares of the business. Invst LLC lifted its position in Analog Devices by 7.7% during the third quarter. Invst LLC now owns 974 shares of the semiconductor company’s stock worth $224,000 after buying an additional 70 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Analog Devices by 4.1% during the third quarter. SkyView Investment Advisors LLC now owns 3,261 shares of the semiconductor company’s stock worth $751,000 after acquiring an additional 128 shares during the period. Anchor Investment Management LLC lifted its position in shares of Analog Devices by 33.2% during the 3rd quarter. Anchor Investment Management LLC now owns 2,485 shares of the semiconductor company’s stock worth $572,000 after purchasing an additional 619 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in Analog Devices by 0.9% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,680 shares of the semiconductor company’s stock valued at $1,768,000 after buying an additional 65 shares during the last quarter. Finally, World Investment Advisors LLC boosted its position in shares of Analog Devices by 4,581.5% during the 3rd quarter. World Investment Advisors LLC now owns 42,180 shares of the semiconductor company’s stock worth $9,709,000 after acquiring an additional 41,279 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.