Analog Devices, Inc. (ADI) Receives Consensus Rating of “Buy” from Brokerages
Shares of Analog Devices, Inc. (NASDAQ:ADI) have earned a consensus recommendation of “Buy” from the thirty-one ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $88.50.
Several equities research analysts have recently commented on the stock. Royal Bank Of Canada upped their price target on shares of Analog Devices from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, June 1st. Argus upped their price target on shares of Analog Devices from $86.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, June 1st. Drexel Hamilton reaffirmed a “buy” rating and set a $105.00 price target (up previously from $93.00) on shares of Analog Devices in a research report on Wednesday, May 31st. B. Riley reaffirmed a “buy” rating and set a $103.00 price target on shares of Analog Devices in a research report on Tuesday, May 30th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $100.00 price target on shares of Analog Devices in a research report on Friday, May 26th.
Analog Devices (NASDAQ ADI) traded down 0.27% during trading on Monday, reaching $78.75. 322,575 shares of the company traded hands. The company’s 50-day moving average price is $79.87 and its 200 day moving average price is $79.05. Analog Devices has a 52 week low of $59.01 and a 52 week high of $90.49. The firm has a market capitalization of $28.90 billion, a price-to-earnings ratio of 30.16 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.18. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. Analog Devices’s revenue was up 41.2% on a year-over-year basis. On average, equities research analysts expect that Analog Devices will post $4.37 EPS for the current year.
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In other news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $80.35, for a total transaction of $241,050.00. Following the completion of the transaction, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,639,461.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 47,500 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total value of $4,108,750.00. Following the sale, the chief executive officer now owns 61,484 shares in the company, valued at approximately $5,318,366. The disclosure for this sale can be found here. Insiders have sold a total of 56,581 shares of company stock valued at $4,841,798 over the last quarter. Corporate insiders own 1.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC raised its stake in Analog Devices by 156.6% in the first quarter. Confluence Investment Management LLC now owns 482,703 shares of the semiconductor company’s stock valued at $39,558,000 after buying an additional 294,611 shares during the last quarter. CENTRAL TRUST Co raised its stake in Analog Devices by 7.5% in the first quarter. CENTRAL TRUST Co now owns 2,333 shares of the semiconductor company’s stock valued at $191,000 after buying an additional 162 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Analog Devices by 21.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 313,944 shares of the semiconductor company’s stock valued at $25,727,000 after buying an additional 56,244 shares during the last quarter. Woodstock Corp bought a new stake in Analog Devices during the first quarter valued at $530,000. Finally, McQueen Ball & Associates Inc. bought a new stake in Analog Devices during the first quarter valued at $657,000. Institutional investors own 87.50% of the company’s stock.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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