Analog Devices (ADI) PT Raised to $108.00 at Morgan Stanley

Analog Devices (NASDAQ:ADI) had its target price raised by stock analysts at Morgan Stanley from $103.00 to $108.00 in a note issued to investors on Wednesday. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price target would indicate a potential upside of 26.35% from the company’s current price.

ADI has been the topic of a number of other reports. BidaskClub upgraded Analog Devices from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Drexel Hamilton restated a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a research report on Wednesday, August 30th. Jefferies Group reiterated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research report on Thursday, October 19th. Citigroup reiterated a “neutral” rating and issued a $88.00 price target (down from $91.00) on shares of Analog Devices in a research report on Friday, September 1st. Finally, Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Tuesday, October 10th. Eleven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $96.24.

Shares of Analog Devices (NASDAQ ADI) traded down $0.32 during midday trading on Wednesday, reaching $85.48. The company’s stock had a trading volume of 2,248,800 shares, compared to its average volume of 2,978,688. The company has a current ratio of 1.47, a quick ratio of 1.13 and a debt-to-equity ratio of 0.74. The company has a market cap of $31,628.95, a P/E ratio of 18.33, a P/E/G ratio of 1.59 and a beta of 1.29. Analog Devices has a 52 week low of $71.00 and a 52 week high of $93.99.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.09. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The company’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS. sell-side analysts expect that Analog Devices will post 5.2 earnings per share for the current year.

In other Analog Devices news, CEO Vincent Roche sold 100,000 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $85.17, for a total value of $8,517,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jean Philibert sold 5,098 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $90.24, for a total value of $460,043.52. Following the completion of the sale, the senior vice president now owns 5,098 shares of the company’s stock, valued at $460,043.52. The disclosure for this sale can be found here. Insiders sold 219,256 shares of company stock worth $18,796,594 in the last three months. Insiders own 1.10% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Wedbush Securities Inc. boosted its position in Analog Devices by 29.4% during the second quarter. Wedbush Securities Inc. now owns 5,962 shares of the semiconductor company’s stock valued at $464,000 after purchasing an additional 1,353 shares during the last quarter. Pitcairn Co. boosted its position in Analog Devices by 0.6% during the second quarter. Pitcairn Co. now owns 4,719 shares of the semiconductor company’s stock valued at $367,000 after purchasing an additional 30 shares during the last quarter. Dupont Capital Management Corp boosted its position in Analog Devices by 34.2% during the second quarter. Dupont Capital Management Corp now owns 14,481 shares of the semiconductor company’s stock valued at $1,127,000 after purchasing an additional 3,690 shares during the last quarter. LMR Partners LLP acquired a new position in Analog Devices during the second quarter valued at approximately $958,000. Finally, State of Wisconsin Investment Board boosted its position in Analog Devices by 7.7% during the second quarter. State of Wisconsin Investment Board now owns 432,949 shares of the semiconductor company’s stock valued at $33,683,000 after purchasing an additional 31,035 shares during the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.

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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.