Analog Devices, Inc. (ADI) Receives Average Recommendation of “Buy” from Brokerages
Shares of Analog Devices, Inc. (NASDAQ:ADI) have been assigned a consensus recommendation of “Buy” from the thirty brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, seventeen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $89.63.
Several equities research analysts recently weighed in on the company. Royal Bank Of Canada boosted their target price on Analog Devices from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, June 1st. Argus boosted their target price on Analog Devices from $86.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, June 1st. Drexel Hamilton restated a “buy” rating and set a $105.00 target price (up previously from $93.00) on shares of Analog Devices in a research note on Wednesday, May 31st. B. Riley restated a “buy” rating and set a $103.00 target price on shares of Analog Devices in a research note on Tuesday, May 30th. Finally, Credit Suisse Group restated a “buy” rating and set a $100.00 target price on shares of Analog Devices in a research note on Friday, May 26th.
In other Analog Devices news, CEO Vincent Roche sold 47,500 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was 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 of the company’s stock, valued at $5,318,366. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $80.28, for a total value of $240,840.00. Following the completion of the sale, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,638,033.12. The disclosure for this sale can be found here. Insiders have sold 61,086 shares of company stock worth $5,202,514 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of ADI. Lazard Asset Management LLC purchased a new stake in Analog Devices during the first quarter valued at $100,000. Whittier Trust Co. of Nevada Inc. raised its stake 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. Jacobus Wealth Management Inc. purchased a new stake in Analog Devices during the first quarter valued at $113,000. Heritage Trust Co purchased a new stake in Analog Devices during the first quarter valued at $114,000. Finally, Guardian Life Insurance Co. of America raised its stake in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares during the period. 86.67% of the stock is currently owned by institutional investors.
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Analog Devices (ADI) traded down 0.2305% during mid-day trading on Friday, hitting $77.3812. 353,078 shares of the company’s stock traded hands. The stock has a market cap of $28.40 billion, a PE ratio of 29.6366 and a beta of 1.30. The firm’s 50-day moving average price is $79.05 and its 200-day moving average price is $79.81. Analog Devices has a one year low of $59.01 and a one year high of $90.49.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 EPS 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 the consensus estimate of $1.10 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. On average, analysts forecast that Analog Devices will post $4.37 EPS for the current fiscal year.
About Analog Devices
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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