Stifel Nicolaus Issues Positive Forecast for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its price objective raised by Stifel Nicolaus from $330.00 to $360.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 6.79% from the company’s current price.

ADI has been the subject of several other research reports. Barclays raised shares of Analog Devices from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $315.00 to $375.00 in a report on Thursday, February 12th. JPMorgan Chase & Co. increased their price target on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Zacks Research raised Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. UBS Group reiterated a “buy” rating and issued a $400.00 price objective on shares of Analog Devices in a research report on Monday, February 9th. Finally, 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. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $318.35.

Analog Devices Stock Up 1.7%

NASDAQ:ADI opened at $337.10 on Tuesday. 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 12-month low of $158.65 and a 12-month high of $343.96. The stock’s fifty day simple moving average is $297.14 and its 200-day simple moving average is $261.77. The firm has a market capitalization of $164.72 billion, a P/E ratio of 73.93, a P/E/G ratio of 1.93 and a beta of 1.03.

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

Insider Buying and Selling at Analog Devices

In related news, SVP Martin Cotter sold 10,000 shares of Analog Devices stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $278.44, for a total transaction of $2,784,400.00. Following the completion of the transaction, the senior vice president owned 49,664 shares in the company, valued at approximately $13,828,444.16. This trade represents a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $306.92, for a total value of $3,069,200.00. Following the transaction, the chief executive officer directly owned 155,688 shares in the company, valued at approximately $47,783,760.96. This trade represents a 6.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,544 shares of company stock valued at $15,320,417 in the last three months. Corporate insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADI. Norges Bank bought a new position in shares of Analog Devices in the fourth quarter valued at about $2,215,516,000. Amundi grew its position in shares of Analog Devices by 44.8% in the third quarter. Amundi now owns 6,215,129 shares of the semiconductor company’s stock valued at $1,507,740,000 after purchasing an additional 1,922,302 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Analog Devices by 29.2% in the third quarter. Raymond James Financial Inc. now owns 4,829,931 shares of the semiconductor company’s stock valued at $1,186,714,000 after purchasing an additional 1,091,004 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Analog Devices by 3,456.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,059,726 shares of the semiconductor company’s stock worth $287,398,000 after purchasing an additional 1,029,927 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Analog Devices by 948.2% in the 2nd quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock valued at $258,487,000 after buying an additional 982,385 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

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.