Analog Devices (NASDAQ:ADI) Stock Price Expected to Rise, Truist Financial Analyst Says

Analog Devices (NASDAQ:ADI) had its price target hoisted by equities researchers at Truist Financial from $230.00 to $248.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Truist Financial’s price target indicates a potential upside of 3.80% from the company’s previous close.

ADI has been the subject of a number of other reports. UBS Group upped their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company upped their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Piper Sandler cut their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $255.19.

Analog Devices Trading Down 2.0 %

Shares of ADI stock opened at $238.91 on Thursday. Analog Devices has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The stock’s fifty day moving average price is $215.50 and its two-hundred day moving average price is $220.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.93. The company has a market cap of $118.52 billion, a PE ratio of 76.09, a P/E/G ratio of 2.76 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. Equities analysts predict that Analog Devices will post 7.11 EPS for the current fiscal year.

Analog Devices announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Analog Devices

Several hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in Analog Devices in the third quarter valued at $28,000. Orion Capital Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $27,000. Hopwood Financial Services Inc. acquired a new position in Analog Devices during the 4th quarter worth approximately $30,000. Mainstream Capital Management LLC bought a new position in Analog Devices in the fourth quarter worth approximately $30,000. Finally, Cassady Schiller Wealth Management LLC grew its stake in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 55 shares during the period. 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.