Stifel Nicolaus Has Lowered Expectations for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its price objective lowered by equities research analysts at Stifel Nicolaus from $275.00 to $225.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 27.65% from the stock’s previous close.

ADI has been the subject of several other research reports. Citigroup decreased their price target on Analog Devices from $265.00 to $235.00 and set a “buy” rating for the company in a report on Friday, April 11th. UBS Group upped their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Finally, Truist Financial increased their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.05.

Analog Devices Stock Performance

ADI opened at $176.27 on Thursday. Analog Devices has a 1-year low of $158.65 and a 1-year high of $247.10. The company has a market cap of $87.43 billion, a price-to-earnings ratio of 56.14, a PEG ratio of 2.85 and a beta of 1.06. The company’s fifty day moving average price is $206.00 and its two-hundred day moving average price is $214.33. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.73 EPS. On average, analysts expect that Analog Devices will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has approved a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now directly owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,809 shares of company stock worth $6,154,756. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Midwest Professional Planners LTD. grew its holdings in shares of Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after purchasing an additional 53 shares in the last quarter. Portland Global Advisors LLC lifted its position in Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after purchasing an additional 53 shares during the last quarter. NTV Asset Management LLC grew its stake in Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after buying an additional 54 shares in the last quarter. West Oak Capital LLC grew its stake in Analog Devices by 0.4% in the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock worth $2,658,000 after buying an additional 55 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC increased its holdings in shares of Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after buying an additional 55 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other 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.