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

Analog Devices (NASDAQ:ADI) had its price objective hoisted by equities research analysts at Truist Financial from $222.00 to $275.00 in a report issued 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 company’s current price.

Several other equities research analysts have also recently commented on the company. Bank of America raised their target price on Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday. 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. Barclays raised their target price on Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday. Evercore ISI assumed coverage on Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on Analog Devices in a research note on Monday, May 13th. They set a “buy” rating and a $250.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Analog Devices Price Performance

Shares of ADI stock opened at $242.00 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices has a twelve month low of $154.99 and a twelve month high of $242.00. The company has a market cap of $120.01 billion, a P/E ratio of 42.96, a P/E/G ratio of 5.44 and a beta of 1.14. The business has a fifty day simple moving average of $199.12 and a 200 day simple moving average of $192.74.

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

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director James Champy sold 1,228 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $10,057,745.34. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,874,613 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

Hedge funds have recently modified their holdings of the business. MGO One Seven LLC lifted its position in Analog Devices by 14.6% during the third quarter. MGO One Seven LLC now owns 2,865 shares of the semiconductor company’s stock valued at $502,000 after acquiring an additional 366 shares during the last quarter. Syon Capital LLC purchased a new stake in Analog Devices during the third quarter valued at approximately $498,000. NBC Securities Inc. purchased a new stake in Analog Devices during the third quarter valued at approximately $123,000. Pinnacle Financial Partners Inc lifted its position in Analog Devices by 606.5% during the third quarter. Pinnacle Financial Partners Inc now owns 2,282 shares of the semiconductor company’s stock valued at $400,000 after acquiring an additional 1,959 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC lifted its position in Analog Devices by 5.1% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,772 shares of the semiconductor company’s stock valued at $310,000 after acquiring an additional 86 shares during the last quarter. Hedge funds and other 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.