Analog Devices (NASDAQ:ADI) had its price objective boosted by Piper Jaffray Companies from $118.00 to $135.00 in a report published on Tuesday morning, The Fly reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Virtu Financial from a hold rating to a sell rating in a report on Tuesday, June 18th. SunTrust Banks cut their price target on shares of Analog Devices to $122.00 and set a buy rating on the stock in a report on Thursday, May 23rd. Morgan Stanley set a $123.00 price target on shares of Lowe’s Companies and gave the stock a buy rating in a report on Thursday, May 23rd. Goldman Sachs Group downgraded shares of SUMCO CORP/ADR from a buy rating to a neutral rating in a report on Monday, June 10th. Finally, Sanford C. Bernstein downgraded shares of Texas Instruments from an outperform rating to a market perform rating and set a $108.00 price target on the stock. in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Analog Devices currently has a consensus rating of Buy and an average target price of $109.94.

ADI stock opened at $113.92 on Tuesday. The stock has a market capitalization of $42.16 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 1.75 and a beta of 1.43. The firm’s 50-day moving average price is $106.38. Analog Devices has a one year low of $76.62 and a one year high of $118.54. The company has a current ratio of 1.52, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.06. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts expect that Analog Devices will post 5.24 EPS for the current year.

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $115.23, for a total value of $1,152,300.00. Following the sale, the chief executive officer now directly owns 31,206 shares in the company, valued at $3,595,867.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Champy sold 4,250 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $115.04, for a total value of $488,920.00. Following the completion of the sale, the director now owns 17,510 shares in the company, valued at $2,014,350.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,256 shares of company stock worth $10,476,068. 0.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADI. Deprince Race & Zollo Inc. boosted its stake in shares of Analog Devices by 4.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 296,328 shares of the semiconductor company’s stock worth $25,434,000 after buying an additional 11,722 shares during the last quarter. Korea Investment CORP increased its position in shares of Analog Devices by 421.7% during the fourth quarter. Korea Investment CORP now owns 22,268 shares of the semiconductor company’s stock worth $1,911,000 after acquiring an additional 18,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Analog Devices by 20.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,792,028 shares of the semiconductor company’s stock worth $153,818,000 after acquiring an additional 302,982 shares in the last quarter. Neuburgh Advisers LLC increased its position in shares of Analog Devices by 2.1% during the fourth quarter. Neuburgh Advisers LLC now owns 18,898 shares of the semiconductor company’s stock worth $1,622,000 after acquiring an additional 396 shares in the last quarter. Finally, Fort L.P. increased its position in shares of Analog Devices by 94.1% during the fourth quarter. Fort L.P. now owns 17,547 shares of the semiconductor company’s stock worth $1,506,000 after acquiring an additional 8,506 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

About Analog Devices

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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