Analog Devices (NASDAQ:ADI) Given a $235.00 Price Target by Wells Fargo & Company Analysts

Analog Devices (NASDAQ:ADI) received a $235.00 price objective from research analysts at Wells Fargo & Company in a report released on Monday, MarketBeat.com reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 2.33% from the company’s previous close.

Several other research analysts also recently commented on the company. Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. Benchmark reaffirmed a “buy” rating and issued a $260.00 target price (down from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. KGI Securities began coverage on Analog Devices in a research note on Friday, May 23rd. They issued a “buy” rating for the company. Truist Financial raised their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Finally, UBS Group cut their target price on Analog Devices from $295.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $251.75.

Analog Devices Trading Up 1.0%

Shares of NASDAQ:ADI opened at $229.65 on Monday. Analog Devices has a 1 year low of $158.65 and a 1 year high of $247.10. The firm has a market capitalization of $113.96 billion, a price-to-earnings ratio of 62.58, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The business’s 50 day moving average price is $207.54 and its 200-day moving average price is $211.05.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm posted $1.40 EPS. The business’s revenue was up 22.3% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the sale, the chief executive officer now owns 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. The trade was a 22.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,934 shares of company stock worth $5,807,196. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EFG Asset Management North America Corp. lifted its stake in Analog Devices by 0.3% in the first quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company’s stock valued at $2,866,000 after buying an additional 47 shares during the last quarter. Midwest Professional Planners LTD. lifted its stake in Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock valued at $1,975,000 after buying an additional 53 shares during the last quarter. Portland Global Advisors LLC lifted its stake in Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after buying an additional 53 shares during the last quarter. Heritage Financial Services LLC lifted its stake in Analog Devices by 1.6% in the first quarter. Heritage Financial Services LLC now owns 3,317 shares of the semiconductor company’s stock valued at $669,000 after buying an additional 53 shares during the last quarter. Finally, NTV Asset Management LLC lifted its stake in Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after buying an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.