Analog Devices, Inc. (ADI) Stock Rating Reaffirmed by B. Riley
Analog Devices, Inc. (NASDAQ:ADI)‘s stock had its “buy” rating reaffirmed by research analysts at B. Riley in a research report issued to clients and investors on Thursday. They currently have a $103.00 price target on the semiconductor company’s stock. B. Riley’s target price points to a potential upside of 28.65% from the stock’s previous close.
A number of other research firms have also issued reports on ADI. Stifel Nicolaus reiterated a “buy” rating and set a $97.00 target price (up from $95.00) on shares of Analog Devices in a report on Thursday, June 1st. Drexel Hamilton reiterated a “buy” rating and set a $105.00 price target (up from $93.00) on shares of Analog Devices in a research note on Wednesday, May 31st. Credit Suisse Group reiterated a “buy” rating and set a $100.00 price target on shares of Analog Devices in a research note on Friday, May 26th. Jefferies Group LLC reiterated a “buy” rating and set a $100.00 price target on shares of Analog Devices in a research note on Monday, May 22nd. Finally, Bank of America Corporation reiterated a “buy” rating and set a $100.00 price target (up from $92.00) on shares of Analog Devices in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Analog Devices presently has a consensus rating of “Buy” and a consensus price target of $89.92.
Shares of Analog Devices (NASDAQ:ADI) traded down 1.54% during mid-day trading on Thursday, reaching $78.83. The company’s stock had a trading volume of 288,836 shares. Analog Devices has a one year low of $59.01 and a one year high of $90.49. The firm’s 50 day moving average is $79.10 and its 200 day moving average is $79.83. The firm has a market cap of $28.93 billion, a PE ratio of 30.19 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.18. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue for the quarter was up 41.2% on a year-over-year basis. On average, equities analysts anticipate that Analog Devices will post $4.37 earnings per share for the current fiscal year.
In related news, CEO Vincent Roche sold 47,500 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 61,484 shares in the company, valued at approximately $5,318,366. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Evans bought 14,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was bought at an average price of $78.28 per share, with a total value of $1,095,920.00. Following the transaction, the director now directly owns 67,540 shares in the company, valued at $5,287,031.20. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 61,086 shares of company stock worth $5,202,514. Corporate insiders own 1.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Evercore Wealth Management LLC raised its position in Analog Devices by 7.5% in the second quarter. Evercore Wealth Management LLC now owns 1,773 shares of the semiconductor company’s stock valued at $100,000 after buying an additional 123 shares during the period. Lazard Asset Management LLC acquired a new position in Analog Devices during the first quarter valued at $100,000. Peddock Capital Advisors LLC acquired a new position in Analog Devices during the third quarter valued at $101,000. NN Investment Partners Holdings N.V. acquired a new position in Analog Devices during the first quarter valued at $105,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 475 shares during the period. Hedge funds and other institutional investors own 86.67% 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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