Analog Devices, Inc. (ADI) Stock Rating Reaffirmed by Jefferies Group LLC
Analog Devices, Inc. (NASDAQ:ADI)‘s stock had its “buy” rating restated by Jefferies Group LLC in a report issued on Thursday. They presently have a $100.00 target price on the semiconductor company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 12.45% from the company’s previous close.
ADI has been the topic of a number of other reports. BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Drexel Hamilton reissued a “buy” rating and issued a $105.00 price target on shares of Analog Devices in a report on Wednesday, August 30th. Citigroup Inc. reissued a “neutral” rating and issued a $88.00 price target (down from $91.00) on shares of Analog Devices in a report on Friday, September 1st. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Tuesday, October 10th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $100.00 price target (up from $96.00) on shares of Analog Devices in a report on Tuesday, August 29th. Eleven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $93.65.
Shares of Analog Devices (NASDAQ ADI) traded up 0.15% during midday trading on Thursday, reaching $88.93. 1,778,531 shares of the company were exchanged. The stock has a market capitalization of $32.70 billion, a P/E ratio of 44.27 and a beta of 1.30. Analog Devices has a 12-month low of $62.22 and a 12-month high of $90.49. The company has a 50 day moving average price of $85.51 and a 200-day moving average price of $80.91.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm earned $0.82 EPS. The firm’s revenue was up 64.9% compared to the same quarter last year. On average, analysts forecast that Analog Devices will post $4.62 earnings per share for the current fiscal year.
In other news, Director James Champy sold 10,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $85.00, for a total transaction of $850,000.00. Following the transaction, the director now owns 20,185 shares of the company’s stock, valued at approximately $1,715,725. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $77.81, for a total value of $233,430.00. Following the transaction, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,587,635.24. The disclosure for this sale can be found here. Insiders sold a total of 118,989 shares of company stock worth $10,076,166 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in shares of Analog Devices during the 1st quarter worth $100,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Analog Devices by 51.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after buying an additional 475 shares in the last quarter. Guardian Life Insurance Co. of America grew its position in shares of Analog Devices by 18.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after buying an additional 223 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Analog Devices during the 2nd quarter worth $119,000. Finally, WFG Advisors LP grew its position in shares of Analog Devices by 26.4% during the 2nd quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after buying an additional 330 shares in the last quarter. 86.59% of the stock is currently owned by institutional investors and hedge funds.
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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