Analog Devices’ (ADI) “Overweight” Rating Reaffirmed at Morgan Stanley

Analog Devices (NASDAQ:ADI)‘s stock had its “overweight” rating reissued by equities researchers at Morgan Stanley in a report released on Thursday, Benzinga reports. They currently have a $212.00 price target on the semiconductor company’s stock. Morgan Stanley’s target price would suggest a potential upside of 10.26% from the stock’s previous close.

A number of other brokerages have also recently commented on ADI. Barclays increased their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a research note on Thursday, February 22nd. Truist Financial decreased their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. The Goldman Sachs Group raised their price target on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, Sanford C. Bernstein cut shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target on the stock. in a research note on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.26.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $192.27 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The stock has a market capitalization of $95.35 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 4.93 and a beta of 1.17. The firm’s fifty day simple moving average is $193.24 and its 200-day simple moving average is $186.04. Analog Devices has a 12 month low of $154.99 and a 12 month high of $204.20.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the company posted $2.75 EPS. Analog Devices’s revenue was down 22.7% compared to the same quarter last year. As a group, equities analysts forecast that Analog Devices will post 5.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,825,113 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Analog Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Halpern Financial Inc. lifted its stake in shares of Analog Devices by 331.4% in the third quarter. Halpern Financial Inc. now owns 151 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 116 shares in the last quarter. Pinnacle Bancorp Inc. raised its holdings in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares during the last quarter. USA Financial Formulas lifted its position in Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares in the last quarter. Silver Oak Securities Incorporated acquired a new position in Analog Devices during the 3rd quarter valued at about $29,000. Finally, Cetera Trust Company N.A bought a new stake in Analog Devices during the 4th quarter worth approximately $29,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. 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 consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.