Analog Devices (NASDAQ:ADI) Price Target Cut to $173.00

Analog Devices (NASDAQ:ADIGet Rating) had its price target cut by equities research analysts at Morgan Stanley from $186.00 to $173.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price would suggest a potential upside of 9.48% from the company’s previous close.

Several other equities research analysts have also recently weighed in on ADI. StockNews.com started coverage on shares of Analog Devices in a research report on Thursday, March 31st. They set a “hold” rating for the company. Sanford C. Bernstein raised their target price on Analog Devices to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 19th. The Goldman Sachs Group lowered their price target on Analog Devices from $207.00 to $183.00 and set a “buy” rating for the company in a research report on Tuesday, April 5th. Oppenheimer reiterated an “outperform” rating and issued a $210.00 price objective on shares of Analog Devices in a research report on Monday, May 16th. Finally, Daiwa Capital Markets decreased their target price on Analog Devices from $217.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, February 17th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $198.43.

NASDAQ ADI traded down $3.59 during trading on Friday, hitting $158.02. 40,748 shares of the company’s stock traded hands, compared to its average volume of 3,312,815. The stock has a fifty day moving average of $160.22 and a two-hundred day moving average of $164.69. Analog Devices has a 12-month low of $143.81 and a 12-month high of $191.95. The firm has a market cap of $82.14 billion, a P/E ratio of 44.68, a PEG ratio of 1.46 and a beta of 1.07. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.99 and a quick ratio of 1.53.

Analog Devices (NASDAQ:ADIGet Rating) last issued its earnings results on Wednesday, May 18th. The semiconductor company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.29. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Analog Devices had a return on equity of 12.11% and a net margin of 16.84%. Analog Devices’s quarterly revenue was up 78.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.54 EPS. As a group, analysts expect that Analog Devices will post 9.24 earnings per share for the current fiscal year.

In other news, Director Tunc Doluca sold 4,700 shares of the business’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $166.50, for a total transaction of $782,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward H. Frank sold 1,435 shares of the stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $166.90, for a total value of $239,501.50. Following the completion of the transaction, the director now directly owns 2,525 shares of the company’s stock, valued at $421,422.50. The disclosure for this sale can be found here. Insiders have sold 14,636 shares of company stock worth $2,440,461 in the last 90 days. Insiders own 0.91% of the company’s stock.

A number of large investors have recently bought and sold shares of ADI. Horan Securities Inc. boosted its stake in Analog Devices by 101.2% during the first quarter. Horan Securities Inc. now owns 163 shares of the semiconductor company’s stock worth $27,000 after buying an additional 82 shares during the period. Core Alternative Capital grew its stake in shares of Analog Devices by 333.3% in the first quarter. Core Alternative Capital now owns 182 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 140 shares in the last quarter. Monolith Advisors purchased a new stake in Analog Devices during the 4th quarter worth about $32,000. Worth Asset Management LLC purchased a new stake in shares of Analog Devices during the first quarter worth approximately $33,000. Finally, Arlington Partners LLC purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $34,000. 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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