Analog Devices’ (ADI) Buy Rating Reaffirmed at Drexel Hamilton
Analog Devices, Inc. (NASDAQ:ADI)‘s stock had its “buy” rating reiterated by equities researchers at Drexel Hamilton in a research note issued to investors on Wednesday. They currently have a $105.00 price target on the semiconductor company’s stock. Drexel Hamilton’s price objective points to a potential upside of 25.46% from the company’s previous close.
A number of other research firms also recently issued reports on ADI. Jefferies Group LLC restated a “buy” rating on shares of Analog Devices in a report on Monday, July 10th. BidaskClub downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Raymond James Financial, Inc. started coverage on shares of Analog Devices in a report on Friday, June 16th. They set a “market perform” rating for the company. Royal Bank Of Canada restated a “buy” rating and set a $92.00 price objective on shares of Analog Devices in a report on Friday, August 4th. Finally, Goldman Sachs Group Inc restated a “neutral” rating and set a $90.00 price objective (up previously from $87.00) on shares of Analog Devices in a report on Thursday, June 1st. Twelve analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $91.50.
Shares of Analog Devices (ADI) traded down 0.06% during mid-day trading on Wednesday, hitting $83.67. 5,136,488 shares of the company traded hands. The firm has a 50-day moving average of $79.22 and a 200-day moving average of $79.94. Analog Devices has a one year low of $59.01 and a one year high of $90.49. The stock has a market capitalization of $30.71 billion, a price-to-earnings ratio of 32.05 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was up 64.9% compared to the same quarter last year. On average, equities analysts predict that Analog Devices will post $4.37 earnings per share for the current year.
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In other Analog Devices news, Director Bruce R. Evans acquired 14,000 shares of the stock in a transaction dated Friday, July 7th. The stock was purchased at an average cost of $78.28 per share, for a total transaction of $1,095,920.00. Following the acquisition, the director now owns 67,540 shares in the company, valued at approximately $5,287,031.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $80.28, for a total transaction of $240,840.00. Following the completion of the sale, the senior vice president now owns 20,404 shares of the company’s stock, valued at $1,638,033.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,091 shares of company stock valued at $1,452,569. 1.10% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Intl Fcstone Inc. acquired a new stake in shares of Analog Devices during the second quarter worth $205,000. Achmea Investment Management B.V. raised its stake in shares of Analog Devices by 17.5% in the second quarter. Achmea Investment Management B.V. now owns 33,887 shares of the semiconductor company’s stock worth $2,634,000 after buying an additional 5,058 shares during the last quarter. Hall Laurie J Trustee raised its stake in shares of Analog Devices by 1.7% in the second quarter. Hall Laurie J Trustee now owns 16,435 shares of the semiconductor company’s stock worth $1,279,000 after buying an additional 274 shares during the last quarter. WFG Advisors LP raised its stake in shares of Analog Devices by 26.4% in the second quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after buying an additional 330 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Analog Devices by 25.4% in the second quarter. Toronto Dominion Bank now owns 128,820 shares of the semiconductor company’s stock worth $10,021,000 after buying an additional 26,076 shares during the last quarter. Hedge funds and other institutional investors own 86.88% 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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