Analog Devices (NASDAQ:ADI) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday.
Other equities analysts have also issued reports about the company. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a report on Thursday, August 23rd. Raymond James upped their target price on Analog Devices from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, August 23rd. Morgan Stanley lowered their target price on Analog Devices from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, October 3rd. BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a report on Saturday, August 25th. Finally, KeyCorp initiated coverage on Analog Devices in a report on Tuesday, September 25th. They set a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. Analog Devices has a consensus rating of “Buy” and an average price target of $103.70.
Analog Devices stock traded up $4.29 during midday trading on Thursday, hitting $88.00. The stock had a trading volume of 3,346,099 shares, compared to its average volume of 2,867,206. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.60. The firm has a market cap of $30.77 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.13 and a beta of 1.20. Analog Devices has a 12 month low of $76.62 and a 12 month high of $103.59.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.07. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.51 billion. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. Analog Devices’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. As a group, equities research analysts anticipate that Analog Devices will post 5.93 earnings per share for the current year.
Analog Devices declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, SVP Margaret K. Seif sold 2,700 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $92.81, for a total value of $250,587.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $97.19, for a total value of $971,900.00. Following the completion of the transaction, the chief executive officer now directly owns 27,376 shares of the company’s stock, valued at $2,660,673.44. The disclosure for this sale can be found here. Insiders sold a total of 76,050 shares of company stock valued at $7,468,658 over the last three months. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of ADI. Sterling Capital Management LLC lifted its position in Analog Devices by 1.6% in the third quarter. Sterling Capital Management LLC now owns 1,065,204 shares of the semiconductor company’s stock worth $98,489,000 after purchasing an additional 16,797 shares during the period. Victory Capital Management Inc. lifted its position in Analog Devices by 10.2% in the third quarter. Victory Capital Management Inc. now owns 44,949 shares of the semiconductor company’s stock worth $4,156,000 after purchasing an additional 4,174 shares during the period. Moody National Bank Trust Division acquired a new stake in Analog Devices in the third quarter worth approximately $105,000. Robeco Institutional Asset Management B.V. lifted its position in Analog Devices by 57.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 63,007 shares of the semiconductor company’s stock worth $5,825,000 after purchasing an additional 23,040 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in Analog Devices by 1.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 40,666 shares of the semiconductor company’s stock worth $3,760,000 after purchasing an additional 776 shares during the period. 88.10% of the stock is owned by institutional investors and hedge funds.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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