Zacks Investment Research upgraded shares of Analog Devices (NASDAQ:ADI) from a hold rating to a buy rating in a report released on Tuesday morning. The firm currently has $107.00 price target on the semiconductor company’s stock.
According to Zacks, “Analog Devices is benefiting from strong industrial, automotive and communications end-markets. While Analog Devices’ investments are aimed at strengthening the product line and countering increasing competition, the policy of returning cash through dividends and share buybacks ensures investor loyalty. The company is currently riding on strength across all the markets and positive contributions from Linear Technology acquisition. Analog Devices' leading market position, focus on communications, automotive and industrial markets, margin expansion initiatives and strong balance sheet are positives. Notably, the stock has outperformed the industry it belongs to over a year. However, we remain concerned about competitive pressure across several markets.”
Several other brokerages also recently issued reports on ADI. SunTrust Banks raised their target price on shares of Analog Devices to $116.00 and gave the company a positive rating in a research note on Thursday, April 12th. They noted that the move was a valuation call. Sanford C. Bernstein upgraded shares of Analog Devices from a market perform rating to an outperform rating and set a $105.00 target price for the company in a research note on Tuesday, February 20th. KeyCorp raised their target price on shares of Analog Devices from $107.00 to $110.00 and gave the company an overweight rating in a research note on Thursday, March 1st. Nomura raised their target price on shares of Analog Devices from $85.00 to $95.00 and gave the company a neutral rating in a research note on Thursday, March 1st. Finally, Deutsche Bank raised their target price on shares of Analog Devices from $85.00 to $87.00 and gave the company a hold rating in a research note on Thursday, March 1st. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $101.50.
Analog Devices stock opened at $95.45 on Tuesday. Analog Devices has a one year low of $76.07 and a one year high of $98.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.76 and a quick ratio of 1.31. The stock has a market cap of $35.15 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.13. Analog Devices had a net margin of 13.80% and a return on equity of 18.78%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted $0.94 EPS. The company’s quarterly revenue was up 54.4% on a year-over-year basis. sell-side analysts expect that Analog Devices will post 5.63 earnings per share for the current fiscal year.
In other Analog Devices news, SVP Margaret K. Seif sold 7,000 shares of the stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $89.86, for a total value of $629,020.00. Following the transaction, the senior vice president now directly owns 24,517 shares of the company’s stock, valued at approximately $2,203,097.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Eileen Wynne sold 5,209 shares of the stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $94.86, for a total transaction of $494,125.74. Following the completion of the transaction, the chief accounting officer now directly owns 3,895 shares in the company, valued at $369,479.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,106 shares of company stock worth $6,060,346. Insiders own 1.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ADI. Suntrust Banks Inc. increased its holdings in shares of Analog Devices by 6.4% during the first quarter. Suntrust Banks Inc. now owns 53,486 shares of the semiconductor company’s stock worth $4,873,000 after purchasing an additional 3,208 shares during the period. BKD Wealth Advisors LLC bought a new position in shares of Analog Devices during the first quarter worth approximately $279,000. Amalgamated Bank increased its holdings in shares of Analog Devices by 12.4% during the first quarter. Amalgamated Bank now owns 54,375 shares of the semiconductor company’s stock worth $4,955,000 after purchasing an additional 5,994 shares during the period. Summit Trail Advisors LLC increased its holdings in shares of Analog Devices by 401.2% during the first quarter. Summit Trail Advisors LLC now owns 10,455 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 8,369 shares during the period. Finally, CIBC World Markets Inc. increased its holdings in shares of Analog Devices by 642.2% during the first quarter. CIBC World Markets Inc. now owns 16,789 shares of the semiconductor company’s stock worth $1,530,000 after purchasing an additional 14,527 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It 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 ICs to support cellular infrastructure.
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