Analog Devices (NASDAQ:ADI) had its target price hoisted by equities researchers at Oppenheimer to $117.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price objective would indicate a potential upside of 10.47% from the stock’s previous close.
ADI has been the topic of a number of other reports. Zacks Investment Research raised Analog Devices from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Royal Bank of Canada lowered Analog Devices from an “outperform” rating to a “sector perform” rating and set a $81.00 target price on the stock. in a research report on Friday, January 4th. Bank of America lowered Analog Devices from a “buy” rating to a “neutral” rating in a research report on Friday, January 4th. ValuEngine raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, January 25th. Finally, BidaskClub raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $102.96.
NASDAQ ADI opened at $105.91 on Thursday. The company has a market capitalization of $39.45 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 1.59 and a beta of 1.24. Analog Devices has a fifty-two week low of $76.62 and a fifty-two week high of $108.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.34 and a quick ratio of 1.08.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.05. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a return on equity of 19.99% and a net margin of 25.42%. Analog Devices’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 EPS. As a group, sell-side analysts forecast that Analog Devices will post 5.41 earnings per share for the current fiscal year.
In other Analog Devices news, SVP Gregory N. Henderson sold 5,003 shares of the stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $84.03, for a total value of $420,402.09. Following the sale, the senior vice president now directly owns 5,389 shares of the company’s stock, valued at $452,837.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $93.34, for a total value of $933,400.00. Following the completion of the sale, the chief executive officer now directly owns 27,376 shares in the company, valued at $2,555,275.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,103 shares of company stock worth $3,020,189. Corporate insiders own 0.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ADI. Legacy Financial Advisors Inc. grew its stake in shares of Analog Devices by 9,766.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 296 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 293 shares in the last quarter. PRW Wealth Management LLC bought a new position in Analog Devices during the fourth quarter valued at about $27,000. Bruderman Asset Management LLC bought a new position in Analog Devices during the fourth quarter valued at about $31,000. Capital Investment Advisory Services LLC bought a new position in Analog Devices during the fourth quarter valued at about $35,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in Analog Devices by 8,439.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,472,596 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 3,431,930 shares in the last quarter. 90.11% of the stock is currently owned by hedge funds and other institutional investors.
About Analog Devices
Analog Devices, Inc designs, manufactures, and markets integrated circuits (ICs), algorithms, software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company 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 and microwave ICs to support cellular infrastructure.
Recommended Story: What is the NASDAQ Stock Market?
Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.