Analog Devices (NASDAQ:ADI) Price Target Cut to $210.00 by Analysts at Stifel Nicolaus

Analog Devices (NASDAQ:ADI – Get Rating) had its target price cut by Stifel Nicolaus from $225.00 to $210.00 in a report issued on Wednesday morning, The Fly reports.

ADI has been the subject of several other reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Analog Devices from $170.00 to $200.00 in a research report on Thursday, February 16th. Citigroup upped their price objective on shares of Analog Devices from $195.00 to $225.00 and gave the company a buy rating in a research note on Friday, February 17th. UBS Group upped their price objective on shares of Analog Devices from $195.00 to $225.00 and gave the company a buy rating in a research note on Thursday, February 16th. Morgan Stanley upped their price objective on shares of Analog Devices from $177.00 to $210.00 and gave the company an equal weight rating in a research note on Thursday, February 16th. Finally, Raymond James upped their price objective on shares of Analog Devices from $200.00 to $225.00 and gave the company an outperform rating in a research note on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $214.59.

Analog Devices Stock Down 7.8 %

ADI opened at $173.20 on Wednesday. Analog Devices has a one year low of $133.48 and a one year high of $198.24. The company has a fifty day moving average price of $186.39 and a 200-day moving average price of $176.83. The firm has a market capitalization of $87.61 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 1.47 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.50.

Analog Devices (NASDAQ:ADI – Get Rating) last announced its earnings results on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.08. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same period in the previous year, the business earned $2.40 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect that Analog Devices will post 10.65 earnings per share for the current fiscal year.

Insider Activity at Analog Devices

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Baker Avenue Asset Management LP lifted its stake in shares of Analog Devices by 4.6% during the 3rd quarter. Baker Avenue Asset Management LP now owns 2,140 shares of the semiconductor company’s stock valued at $298,000 after buying an additional 94 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in Analog Devices by 18.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,488 shares of the semiconductor company’s stock worth $408,000 after purchasing an additional 392 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Analog Devices by 3.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,500 shares of the semiconductor company’s stock worth $5,495,000 after purchasing an additional 1,000 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Analog Devices by 1.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 32,424 shares of the semiconductor company’s stock worth $5,318,000 after purchasing an additional 604 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Analog Devices by 4.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,334,309 shares of the semiconductor company’s stock worth $218,867,000 after purchasing an additional 56,213 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

About Analog Devices

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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.