Analog Devices (ADI) Coverage Initiated at Piper Jaffray Companies

Investment analysts at Piper Jaffray Companies initiated coverage on shares of Analog Devices (NASDAQ:ADI) in a research note issued on Monday, The Fly reports. The firm set a “neutral” rating on the semiconductor company’s stock.

Several other equities analysts have also weighed in on ADI. B. Riley reissued a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a report on Tuesday, August 22nd. BMO Capital Markets reaffirmed 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. Royal Bank of Canada raised their price target on Analog Devices from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, August 31st. Nomura raised Analog Devices from a “reduce” rating to a “neutral” rating and raised their price target for the stock from $72.50 to $80.00 in a report on Thursday, August 31st. Finally, Instinet raised Analog Devices from a “reduce” rating to a “neutral” rating and raised their price target for the stock from $72.50 to $80.00 in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $96.71.

Shares of Analog Devices (ADI) traded up $1.40 during midday trading on Monday, reaching $88.09. The company’s stock had a trading volume of 2,743,112 shares, compared to its average volume of 2,974,367. Analog Devices has a 1-year low of $71.00 and a 1-year high of $93.99. The company has a market capitalization of $31,957.05, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.60 and a beta of 1.29. The company has a current ratio of 1.47, a quick ratio of 1.13 and a debt-to-equity ratio of 0.74.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.09. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company earned $1.05 earnings per share. Analog Devices’s revenue was up 53.4% compared to the same quarter last year. equities research analysts anticipate that Analog Devices will post 5.2 earnings per share for the current fiscal year.

In other news, SVP Peter Real sold 4,505 shares of Analog Devices stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $83.52, for a total value of $376,257.60. Following the transaction, the senior vice president now owns 13,531 shares in the company, valued at $1,130,109.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 100,000 shares of Analog Devices 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 disclosure for this sale can be found here. Insiders have sold 212,656 shares of company stock worth $18,274,198 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pathstone Family Office LLC increased its holdings in shares of Analog Devices by 75.0% in the second quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock worth $1,557,000 after buying an additional 15 shares during the period. Fieldpoint Private Securities LLC increased its holdings in shares of Analog Devices by 91.6% in the third quarter. Fieldpoint Private Securities LLC now owns 1,475 shares of the semiconductor company’s stock worth $127,000 after buying an additional 705 shares during the period. Clear Perspective Advisors LLC increased its holdings in shares of Analog Devices by 3,884.2% in the third quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock worth $130,000 after buying an additional 1,476 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Analog Devices in the second quarter worth about $119,000. Finally, NEXT Financial Group Inc increased its holdings in shares of Analog Devices by 64.4% in the third quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock worth $136,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 87.20% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Analog Devices (NASDAQ:ADI)