Analog Devices (NASDAQ:ADI) Price Target Raised to $203.00 at Truist Financial

Analog Devices (NASDAQ:ADIGet Rating) had its price target raised by research analysts at Truist Financial from $194.00 to $203.00 in a report released on Thursday, The Fly reports. Truist Financial’s price objective points to a potential upside of 25.36% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Oppenheimer reiterated an “outperform” rating and issued a $210.00 price objective on shares of Analog Devices in a research note on Monday. Morgan Stanley lifted their price target on Analog Devices from $194.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 17th. StockNews.com started coverage on Analog Devices in a report on Thursday, March 31st. They issued a “hold” rating on the stock. UBS Group boosted their target price on Analog Devices from $220.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, February 17th. Finally, Citigroup dropped their target price on Analog Devices from $216.00 to $192.00 and set a “buy” rating on the stock in a report on Thursday, February 17th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $199.52.

Shares of ADI stock opened at $161.94 on Thursday. The stock’s fifty day moving average is $159.08 and its two-hundred day moving average is $166.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.65 and a current ratio of 2.09. The firm has a market capitalization of $84.75 billion, a P/E ratio of 50.92, a PEG ratio of 1.53 and a beta of 1.07. Analog Devices has a fifty-two week low of $143.81 and a fifty-two week high of $191.95.

Analog Devices (NASDAQ:ADIGet Rating) last issued its quarterly earnings data on Wednesday, May 18th. The semiconductor company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.29. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.84 billion. Analog Devices had a return on equity of 12.35% and a net margin of 15.18%. The company’s quarterly revenue was up 78.9% on a year-over-year basis. During the same period last year, the company earned $1.54 EPS. On average, equities analysts forecast that Analog Devices will post 8.43 earnings per share for the current year.

In other news, Director Tunc Doluca sold 4,600 shares of the company’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $170.00, for a total value of $782,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 14,000 shares of company stock worth $2,315,422 over the last 90 days. Company insiders own 0.91% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Analog Devices by 2.7% during the fourth quarter. State Street Corp now owns 21,482,120 shares of the semiconductor company’s stock worth $3,775,912,000 after acquiring an additional 569,252 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Analog Devices by 2.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,807,729 shares of the semiconductor company’s stock valued at $1,785,221,000 after buying an additional 218,505 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Analog Devices by 13.7% in the first quarter. Wellington Management Group LLP now owns 9,338,263 shares of the semiconductor company’s stock valued at $1,542,495,000 after buying an additional 1,125,178 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Analog Devices by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 8,832,559 shares of the semiconductor company’s stock valued at $1,548,089,000 after buying an additional 305,461 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Analog Devices by 3.1% in the first quarter. Invesco Ltd. now owns 8,141,005 shares of the semiconductor company’s stock valued at $1,344,732,000 after purchasing an additional 247,249 shares during the last quarter. Hedge funds and other 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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