Analog Devices (NASDAQ:ADI) Stock Price Expected to Rise, Bank of America Analyst Says

Analog Devices (NASDAQ:ADI) had its price objective increased by research analysts at Bank of America from $320.00 to $350.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Bank of America‘s price objective would indicate a potential upside of 16.13% from the stock’s current price.

ADI has been the topic of several other research reports. Wall Street Zen raised shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research raised shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. BNP Paribas Exane began coverage on shares of Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective on the stock. Wells Fargo & Company set a $340.00 target price on shares of Analog Devices and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $314.00 target price on shares of Analog Devices in a report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $308.13.

Analog Devices Stock Performance

Shares of ADI stock opened at $301.38 on Wednesday. The firm has a 50 day moving average of $271.86 and a two-hundred day moving average of $250.83. The stock has a market capitalization of $147.57 billion, a PE ratio of 65.90, a P/E/G ratio of 1.62 and a beta of 1.03. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. Analog Devices has a 52 week low of $158.65 and a 52 week high of $309.17.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion during 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%.Analog Devices’s revenue was up 25.9% compared to the same quarter last year. During the same period last year, the business posted $1.67 earnings per share. On average, research analysts predict that Analog Devices will post 7.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Katsufumi Nakamura sold 500 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $301.46, for a total transaction of $150,730.00. Following the transaction, the senior vice president directly owned 12,710 shares in the company, valued at approximately $3,831,556.60. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $297.27, for a total transaction of $928,968.75. Following the completion of the sale, the director owned 130,071 shares of the company’s stock, valued at approximately $38,666,206.17. This trade represents a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 53,544 shares of company stock worth $14,328,561. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ADI. Howard Hughes Medical Institute purchased a new stake in Analog Devices in the 2nd quarter valued at approximately $25,000. RMG Wealth Management LLC purchased a new position in Analog Devices in the second quarter worth $26,000. Clayton Financial Group LLC purchased a new stake in shares of Analog Devices during the 3rd quarter worth $31,000. Y.D. More Investments Ltd acquired a new position in shares of Analog Devices during the 3rd quarter worth $32,000. Finally, LFA Lugano Financial Advisors SA increased its holdings 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 in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

About Analog Devices

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.