Analog Devices (NASDAQ:ADI) Upgraded by Zacks Research to “Strong-Buy” Rating

Analog Devices (NASDAQ:ADI) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

A number of other research analysts have also commented on ADI. BNP Paribas began coverage on Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price objective on shares of Analog Devices in a research note on Tuesday, December 16th. Truist Financial raised their target price on shares of Analog Devices from $258.00 to $291.00 and gave the stock a “hold” rating in a report on Friday, December 19th. UBS Group boosted their price target on Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, Wells Fargo & Company raised their price objective on Analog Devices from $250.00 to $265.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.22.

Analog Devices Stock Performance

NASDAQ ADI opened at $273.74 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $257.07 and its two-hundred day moving average price is $245.65. The firm has a market capitalization of $134.04 billion, a P/E ratio of 60.03, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. Analog Devices has a 1 year low of $158.65 and a 1 year high of $284.23.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.04. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.67 earnings per share. As a group, research analysts anticipate that Analog Devices will post 7.14 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $279.39, for a total transaction of $873,093.75. Following the completion of the transaction, the director owned 136,321 shares of the company’s stock, valued at approximately $38,086,724.19. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Martin Cotter sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $271.19, for a total transaction of $1,355,950.00. Following the completion of the sale, the senior vice president directly owned 59,664 shares in the company, valued at approximately $16,180,280.16. This represents a 7.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,419 shares of company stock worth $7,811,917 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ADI. Howard Hughes Medical Institute bought a new position in Analog Devices during the second quarter worth $25,000. RMG Wealth Management LLC bought a new stake in Analog Devices during the second quarter valued at $26,000. Clayton Financial Group LLC acquired a new stake in Analog Devices during the 3rd quarter worth about $31,000. Y.D. More Investments Ltd bought a new position in shares of Analog Devices in the 3rd quarter worth about $32,000. Finally, LFA Lugano Financial Advisors SA lifted its stake in shares of Analog Devices by 92.9% in the 3rd quarter. LFA Lugano Financial Advisors SA now owns 135 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 65 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.