Analog Devices (NASDAQ:ADI) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Analog Devices (NASDAQ:ADI) had its target price raised by equities research analysts at Stifel Nicolaus from $225.00 to $248.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target points to a potential upside of 11.60% from the stock’s current price.

A number of other analysts also recently issued reports on ADI. Cantor Fitzgerald raised their price objective on shares of Analog Devices from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday. Benchmark increased their price objective on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Seaport Res Ptn upgraded Analog Devices to a “strong sell” rating in a research note on Wednesday, April 30th. UBS Group decreased their price objective on Analog Devices from $300.00 to $295.00 and set a “buy” rating for the company in a report on Monday, May 12th. Finally, Morgan Stanley set a $214.00 price objective on shares of Analog Devices in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $252.35.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $222.22 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $110.22 billion, a PE ratio of 70.77, a PEG ratio of 2.85 and a beta of 0.98. The stock’s 50 day moving average price is $197.63 and its 200-day moving average price is $210.50. Analog Devices has a twelve month low of $158.65 and a twelve month high of $247.10.

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

Analog Devices announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the 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 $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 quarter, insiders sold 42,934 shares of company stock valued at $8,735,156. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Analog Devices during the 4th quarter valued at about $1,755,958,000. Raymond James Financial Inc. purchased a new position in shares of Analog Devices during the fourth quarter worth approximately $833,386,000. Proficio Capital Partners LLC lifted its holdings in shares of Analog Devices by 22,005.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after acquiring an additional 3,059,349 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Analog Devices by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock valued at $2,304,098,000 after purchasing an additional 2,407,460 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Analog Devices by 25,460.1% during the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company’s stock valued at $446,037,000 after purchasing an additional 2,203,062 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

About Analog Devices

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.