Analog devices (NASDAQ: ADI) saw its price target raised by Oppenheimer analysts from $ 200.00 to $ 210.00 in a research note released to investors Friday, The Fly reports. The company currently has an “outperform” rating on the shares of the semiconductor company. Oppenheimer’s price target would point to a potential rise of 11.65% from the stock’s previous close.
Several other brokerages have also weighed on ADI recently. JPMorgan Chase & Co. downgraded Analog Devices from a “neutral” to an “overweight” rating and increased its target price for the share from $ 119.00 to $ 215.00 in a report released on Monday, 20 September. Truist Securities raised its price target on Analog Devices from $ 179.00 to $ 190.00 and gave the company a “buy” rating in a report released Thursday, August 19. The UBS Group resumed coverage of analog devices in a report published on Wednesday, October 13. They issued a “buy” note and a target price of $ 210.00 on the stock. Jefferies Financial Group raised its price target on analog devices from $ 188.00 to $ 195.00 and gave the company a “buy” rating in a report released on Thursday, August 19. Finally, Stifel Nicolaus raised his price target on analog devices from $ 185.00 to $ 190.00 and gave the company a “buy” rating in a report released on Thursday, August 19. One analyst assigned a sell rating to the stock, four assigned a conservation rating, and twenty assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $ 185.50.
Shares of Analog Devices opened at $ 188.09 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt ratio of 0.31. Analog Devices has a twelve month low of $ 131.50 and a twelve month high of $ 188.69. The company has a 50-day moving average price of $ 174.96 and a 200-day moving average price of $ 167.70. The company has a market cap of $ 69.26 billion, a PE ratio of 41.16, a P / E / G ratio of 2.69 and a beta of 1.16.
Analog Devices (NASDAQ: ADI) last released its quarterly earnings data on Tuesday, August 17. The semiconductor company reported EPS of $ 1.72 for the quarter, beating Thomson Reuters consensus estimate of $ 1.62 by $ 0.10. Analog Devices reported a return on equity of 18.86% and a net margin of 26.15%. The company posted revenue of $ 1.76 billion in the quarter, against analysts’ estimates of $ 1.71 billion. During the same period of the previous year, the company earned $ 1.36 per share. Analog Devices quarterly revenue increased 20.8% year-over-year. On average, sell-side analysts expect Analog Devices to post an EPS of 6.41 for the current year.
Analog Devices announced that its board of directors authorized a share buyback plan on Wednesday, August 25 that allows the company to repurchase $ 8.50 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 13.8% of its shares through open market purchases. Stock repurchase plans are often an indication that the board of directors of the company believes its shares are undervalued.
In addition, director Bruce R. Evans acquired 8,001 shares of Analog Devices in a trade on Wednesday, October 6. The stock was purchased at an average cost of $ 164.98 per share, for a total value of $ 1,320,004.98. The purchase was disclosed in a legal file with the Securities & Exchange Commission, which is available on the SEC website. In addition, director Tunc Doluca sold 7,000 shares of the company in a transaction dated Monday, November 1. The shares were sold at an average price of $ 173.18, for a total trade of $ 1,212,260.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 29,100 shares of the company valued at $ 5,002,960. Insiders own 0.91% of the company’s shares.
Several hedge funds and other institutional investors have recently changed their positions in the title. Knowledge Leaders Capital LLC increased its stake in Analog Devices by 1.2% in the 3rd quarter. Knowledge Leaders Capital LLC now owns 4,704 shares of the semiconductor company valued at $ 788,000 after purchasing 56 additional shares during the period. Bell Bank increased its stake in Analog Devices by 0.6% in the 2nd quarter. Bell Bank now owns 9,755 shares of the semiconductor company valued at $ 1,679,000 after purchasing an additional 60 shares during the period. MV Capital Management Inc. increased its stake in Analog Devices by 4.6% in the 2nd quarter. MV Capital Management Inc. now owns 1,368 shares of the semiconductor company valued at $ 236,000 after purchasing an additional 60 shares during the period. Claro Advisors LLC increased its stake in Analog Devices by 4.0% in the 2nd quarter. Claro Advisors LLC now owns 1,603 shares of the semiconductor company valued at $ 276,000 after purchasing 61 additional shares during the period. Finally, Integrated Investment Consultants LLC strengthened its position in Analog Devices shares by 2.6% during the third quarter. Integrated Investment Consultants LLC now owns 2,433 shares of the semiconductor company valued at $ 407,000 after purchasing 61 additional shares in the last quarter. 99.41% of the shares are currently held by institutional investors.
About analog devices
Analog Devices, Inc is engaged 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, equipment. infrastructure, power management systems, network equipment, aerospace and defense electronics, optical systems, automobiles and consumer portable devices.
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