Analog Devices (NASDAQ:ADI) PT Raised to $275.00 at Truist Financial

Analog Devices (NASDAQ:ADI) had its price target upped by equities research analysts at Truist Financial from $222.00 to $275.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Truist Financial’s target price would indicate a potential upside of 13.64% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Oppenheimer raised their target price on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Bank of America raised their price objective on Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised their price objective on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Sanford C. Bernstein raised their price objective on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Jefferies Financial Group initiated coverage on Analog Devices in a report on Monday, May 13th. They issued a “buy” rating and a $250.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $229.00.

Analog Devices Price Performance

Analog Devices stock opened at $242.00 on Thursday. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $120.01 billion, a PE ratio of 42.96, a P/E/G ratio of 5.44 and a beta of 1.14. Analog Devices has a 12 month low of $154.99 and a 12 month high of $242.00. The stock has a 50-day moving average price of $199.12 and a two-hundred day moving average price of $192.74.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the company earned $2.83 earnings per share. The firm’s revenue was down 33.8% compared to the same quarter last year. Analysts expect that Analog Devices will post 5.85 EPS for the current year.

Insider Activity

In related news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,707 shares of company stock worth $4,874,613. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Analog Devices

Several hedge funds have recently made changes to their positions in the business. Amarillo National Bank boosted its position in shares of Analog Devices by 3.7% during the fourth quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 54 shares in the last quarter. Mcdonald Partners LLC boosted its position in shares of Analog Devices by 0.7% during the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock valued at $1,497,000 after purchasing an additional 54 shares in the last quarter. Keystone Financial Services boosted its position in shares of Analog Devices by 1.8% during the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 55 shares in the last quarter. Ancora Advisors LLC boosted its position in shares of Analog Devices by 2.1% during the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 57 shares in the last quarter. Finally, Legacy Advisors LLC boosted its holdings in Analog Devices by 2.3% in the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock worth $465,000 after acquiring an additional 59 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Company Profile

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.