Analog Devices (NASDAQ:ADI) had its price target upped by stock analysts at Royal Bank of Canada from $150.00 to $174.00 in a report released on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Royal Bank of Canada’s target price points to a potential upside of 8.75% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets boosted their price target on Analog Devices from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, November 25th. The Goldman Sachs Group upped their target price on Analog Devices from $156.00 to $169.00 and gave the company a “buy” rating in a research note on Monday, December 14th. Argus upped their target price on Analog Devices from $145.00 to $155.00 in a research note on Wednesday, November 25th. Evercore ISI upgraded Analog Devices from an “in-line” rating to an “outperform” rating and upped their target price for the company from $135.00 to $160.00 in a research note on Monday, November 9th. Finally, Truist upped their target price on Analog Devices from $136.00 to $164.00 and gave the company a “buy” rating in a research note on Wednesday, November 25th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $143.46.

Shares of NASDAQ ADI traded up $1.52 during trading on Thursday, reaching $160.00. The company had a trading volume of 17,266 shares, compared to its average volume of 2,646,415. Analog Devices has a twelve month low of $79.07 and a twelve month high of $161.78. The stock has a market capitalization of $59.12 billion, a PE ratio of 48.77, a price-to-earnings-growth ratio of 2.25 and a beta of 1.31. The stock has a 50-day moving average price of $145.18 and a two-hundred day moving average price of $126.63. The company has a current ratio of 1.84, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Monday, November 23rd. The semiconductor company reported $1.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.12. Analog Devices had a return on equity of 15.51% and a net margin of 21.79%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. On average, sell-side analysts predict that Analog Devices will post 5.68 EPS for the current year.

In related news, CFO Prashanth Mahendra-Rajah sold 1,700 shares of the stock in a transaction dated Monday, December 28th. The stock was sold at an average price of $146.75, for a total value of $249,475.00. Following the completion of the transaction, the chief financial officer now owns 11,694 shares of the company’s stock, valued at $1,716,094.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Martin Cotter sold 10,000 shares of the stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $124.56, for a total value of $1,245,600.00. Following the completion of the transaction, the senior vice president now directly owns 13,628 shares of the company’s stock, valued at approximately $1,697,503.68. The disclosure for this sale can be found here. Insiders sold 52,068 shares of company stock valued at $7,127,078 in the last ninety days. Company insiders own 0.42% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ADI. JPMorgan Chase & Co. boosted its stake in Analog Devices by 19.2% in the third quarter. JPMorgan Chase & Co. now owns 26,039,376 shares of the semiconductor company’s stock valued at $3,037,493,000 after acquiring an additional 4,199,225 shares during the last quarter. BlackRock Inc. raised its holdings in Analog Devices by 10.6% in the 3rd quarter. BlackRock Inc. now owns 30,760,256 shares of the semiconductor company’s stock worth $3,590,951,000 after purchasing an additional 2,946,683 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Analog Devices in the 3rd quarter worth $62,497,000. Epoch Investment Partners Inc. raised its holdings in Analog Devices by 80.8% in the 3rd quarter. Epoch Investment Partners Inc. now owns 1,156,787 shares of the semiconductor company’s stock worth $135,043,000 after purchasing an additional 517,050 shares in the last quarter. Finally, Maplelane Capital LLC bought a new position in Analog Devices in the 3rd quarter worth $50,199,000. 91.90% of the stock is owned by hedge funds and other institutional investors.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), 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.

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The Fly

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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