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

Analog Devices (NASDAQ:ADI – Get Rating) had its target price lowered by analysts at UBS Group to $210.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. UBS Group’s price target would indicate a potential upside of 29.29% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Analog Devices from $207.00 to $183.00 and set a “buy” rating on the stock in a report on Tuesday, April 5th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Analog Devices from $200.00 to $185.00 and set a “hold” rating for the company in a report on Thursday, February 17th. StockNews.com initiated coverage on Analog Devices in a report on Thursday, March 31st. They set a “hold” rating on the stock. Truist Financial upped their target price on Analog Devices from $194.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Daiwa Capital Markets cut their price target on Analog Devices from $217.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, February 17th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $199.52.

Shares of NASDAQ:ADI traded up $2.50 during midday trading on Thursday, hitting $162.42. The stock had a trading volume of 100,309 shares, compared to its average volume of 3,448,157. The company’s 50-day moving average price is $159.08 and its 200-day moving average price is $166.79. Analog Devices has a fifty-two week low of $143.81 and a fifty-two week high of $191.95. The company has a quick ratio of 1.65, a current ratio of 2.09 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $85.00 billion, a P/E ratio of 50.99, a price-to-earnings-growth ratio of 1.53 and a beta of 1.07.

Analog Devices (NASDAQ:ADI – Get Rating) last issued its quarterly earnings results on Wednesday, May 18th. The semiconductor company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.29. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.84 billion. Analog Devices had a return on equity of 12.35% and a net margin of 15.18%. During the same quarter last year, the company posted $1.54 EPS. The company’s revenue for the quarter was up 78.9% compared to the same quarter last year. Research analysts expect that Analog Devices will post 8.43 EPS for the current fiscal year.

In other news, Director Tunc Doluca sold 4,700 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $166.50, for a total transaction of $782,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 14,000 shares of company stock valued at $2,315,422 in the last ninety days. 0.91% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of ADI. Connors Investor Services Inc. increased its position in Analog Devices by 3.1% in the 1st quarter. Connors Investor Services Inc. now owns 22,900 shares of the semiconductor company’s stock valued at $3,783,000 after buying an additional 691 shares in the last quarter. Nomura Holdings Inc. grew its stake in Analog Devices by 4.1% in the first quarter. Nomura Holdings Inc. now owns 9,121 shares of the semiconductor company’s stock valued at $1,508,000 after acquiring an additional 363 shares during the period. Wealthfront Advisers LLC increased its holdings in shares of Analog Devices by 6.8% during the first quarter. Wealthfront Advisers LLC now owns 23,522 shares of the semiconductor company’s stock valued at $3,885,000 after acquiring an additional 1,506 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Analog Devices during the first quarter worth approximately $2,424,000. Finally, Kidder Stephen W lifted its holdings in shares of Analog Devices by 0.9% in the 1st quarter. Kidder Stephen W now owns 61,319 shares of the semiconductor company’s stock worth $10,128,000 after purchasing an additional 568 shares in the last quarter. Institutional investors own 86.15% of the company’s stock.

Analog Devices Company Profile (Get Rating)

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

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