Analog Devices (NASDAQ:ADI) had its price target upped by equities research analysts at SunTrust Banks from $93.00 to $104.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. SunTrust Banks’ target price would indicate a potential downside of 12.61% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. Bank of America reissued a “buy” rating and issued a $140.00 target price on shares of Analog Devices in a research report on Wednesday, June 10th. BidaskClub raised shares of Analog Devices from a “sell” rating to a “hold” rating in a research report on Tuesday, March 24th. JPMorgan Chase & Co. lowered their price objective on shares of Analog Devices from $134.00 to $119.00 and set a “neutral” rating for the company in a research report on Thursday, May 21st. Citigroup lowered their price objective on shares of Analog Devices from $144.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Finally, Zacks Investment Research downgraded shares of Analog Devices from a “hold” rating to a “sell” rating and set a $109.00 price objective for the company. in a research report on Thursday, May 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $121.91.
ADI opened at $119.00 on Tuesday. The company has a 50-day moving average of $115.42 and a 200-day moving average of $110.58. The company has a market capitalization of $43.43 billion, a P/E ratio of 39.93, a PEG ratio of 2.21 and a beta of 1.36. Analog Devices has a 1-year low of $79.07 and a 1-year high of $127.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.92 and a current ratio of 1.30.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, May 20th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.03. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Analog Devices had a net margin of 20.05% and a return on equity of 14.51%. The company’s revenue was down 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 EPS. As a group, sell-side analysts expect that Analog Devices will post 4.27 earnings per share for the current fiscal year.
In other news, SVP Steve Pietkiewicz sold 3,710 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $123.29, for a total value of $457,405.90. Also, Director Edward H. Frank sold 8,460 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $113.42, for a total transaction of $959,533.20. Following the completion of the sale, the director now directly owns 19,775 shares of the company’s stock, valued at $2,242,880.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,556 shares of company stock valued at $2,001,570. Company insiders own 0.42% of the company’s stock.
Large investors have recently modified their holdings of the company. Wealth Quarterback LLC purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $3,265,410,000. BlackRock Inc. lifted its position in shares of Analog Devices by 14.7% in the 1st quarter. BlackRock Inc. now owns 27,803,033 shares of the semiconductor company’s stock valued at $2,492,540,000 after acquiring an additional 3,571,383 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Analog Devices by 6.7% in the 1st quarter. Franklin Resources Inc. now owns 9,718,149 shares of the semiconductor company’s stock valued at $871,238,000 after acquiring an additional 609,182 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Analog Devices by 2.1% in the 1st quarter. Wells Fargo & Company MN now owns 8,633,085 shares of the semiconductor company’s stock valued at $773,956,000 after acquiring an additional 176,366 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Analog Devices by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 5,407,079 shares of the semiconductor company’s stock valued at $483,921,000 after acquiring an additional 123,599 shares in the last quarter. 85.44% of the stock is owned by institutional investors.
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.
Featured Article: Gap Up Stocks
Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.