StockNews.com Upgrades Analog Devices (NASDAQ:ADI) to “Buy”

Analog Devices (NASDAQ:ADI – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other analysts have also issued reports on the stock. Truist Financial lifted their target price on shares of Analog Devices from $215.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Morgan Stanley raised their target price on Analog Devices from $177.00 to $210.00 and gave the company an “equal weight” rating in a research report on Thursday, February 16th. KeyCorp boosted their price target on Analog Devices from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 16th. Barclays raised their price objective on Analog Devices from $145.00 to $160.00 and gave the company an “equal weight” rating in a report on Monday, January 23rd. Finally, Bank of America upped their target price on shares of Analog Devices from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 4th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $216.41.

Analog Devices Price Performance

NASDAQ:ADI opened at $192.26 on Wednesday. The firm’s fifty day moving average is $186.21 and its two-hundred day moving average is $175.38. The firm has a market cap of $97.25 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 1.41 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.50 and a current ratio of 2.12. Analog Devices has a one year low of $133.48 and a one year high of $198.24.

Analog Devices (NASDAQ:ADI – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The semiconductor company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.15. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.15 billion. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.94 earnings per share. Research analysts expect that Analog Devices will post 10.6 EPS for the current year.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director James Champy sold 1,495 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total value of $277,232.80. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,181,438.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of Analog Devices stock in a transaction on Monday, March 20th. The shares were sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the sale, the chief financial officer now directly owns 23,871 shares in the company, valued at approximately $4,464,115.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Champy sold 1,495 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $185.44, for a total transaction of $277,232.80. Following the completion of the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,181,438.24. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Analog Devices by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 45,878,473 shares of the semiconductor company’s stock valued at $6,392,707,000 after purchasing an additional 138,980 shares during the last quarter. BlackRock Inc. increased its stake in Analog Devices by 5.2% in the 3rd quarter. BlackRock Inc. now owns 42,266,420 shares of the semiconductor company’s stock valued at $5,889,403,000 after buying an additional 2,076,636 shares during the period. State Street Corp increased its stake in Analog Devices by 1.2% in the 1st quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock valued at $4,024,078,000 after buying an additional 238,249 shares during the period. FMR LLC raised its position in Analog Devices by 72.8% during the 1st quarter. FMR LLC now owns 13,650,137 shares of the semiconductor company’s stock worth $2,692,080,000 after buying an additional 5,748,969 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Analog Devices by 0.7% in the first quarter. Geode Capital Management LLC now owns 9,393,867 shares of the semiconductor company’s stock valued at $1,848,963,000 after acquiring an additional 67,674 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Company Profile

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.