Analog Devices (NASDAQ:ADI) Price Target Raised to $252.00 at The Goldman Sachs Group

Analog Devices (NASDAQ:ADI) had its target price raised by research analysts at The Goldman Sachs Group from $205.00 to $252.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 6.78% from the stock’s previous close.

ADI has been the subject of several other reports. Morgan Stanley reaffirmed an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. TD Cowen raised their target price on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald raised their target price on Analog Devices from $205.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Oppenheimer raised their target price on Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Finally, Susquehanna raised their target price on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $233.67.

Analog Devices Stock Down 1.7 %

NASDAQ:ADI traded down $4.15 during trading hours on Thursday, hitting $236.01. 1,161,041 shares of the company traded hands, compared to its average volume of 3,323,818. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The firm’s 50-day simple moving average is $199.12 and its 200-day simple moving average is $192.74. Analog Devices has a one year low of $154.99 and a one year high of $241.88. The company has a market cap of $117.04 billion, a PE ratio of 42.29, a PEG ratio of 5.44 and a beta of 1.14.

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

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s 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 completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,874,613 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinnacle Bancorp Inc. raised its holdings in shares of Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas raised its holdings in Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in Analog Devices in the third quarter worth $29,000. Cetera Trust Company N.A bought a new position in Analog Devices in the fourth quarter worth $29,000. Finally, Private Wealth Management Group LLC bought a new position in Analog Devices in the fourth quarter worth $29,000. Institutional investors own 86.81% of the company’s stock.

About Analog Devices

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.