Analog Devices, Inc. (NASDAQ:ADI)‘s stock had its “buy” rating reaffirmed by equities research analysts at BMO Capital Markets in a research report issued to clients and investors on Tuesday. They currently have a $96.00 target price on the semiconductor company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 14.67% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. B. Riley restated a “buy” rating and issued a $103.00 target price on shares of Analog Devices in a research note on Tuesday, May 30th. UBS AG restated a “neutral” rating and issued a $94.00 target price (up previously from $83.00) on shares of Analog Devices in a research note on Saturday, June 3rd. Jefferies Group LLC restated a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a research note on Monday, May 22nd. BidaskClub cut Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Morgan Stanley restated an “overweight” rating and issued a $93.00 target price on shares of Analog Devices in a research note on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $89.92.
Analog Devices (NASDAQ:ADI) opened at 83.72 on Tuesday. The firm has a market cap of $30.73 billion, a price-to-earnings ratio of 32.06 and a beta of 1.30. The stock has a 50 day moving average of $79.22 and a 200-day moving average of $79.94. Analog Devices has a 52-week low of $59.01 and a 52-week high of $90.49.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The business’s quarterly revenue was up 64.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. On average, analysts expect that Analog Devices will post $4.37 EPS for the current year.
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In related news, Director Bruce R. Evans bought 14,000 shares of Analog Devices stock in a transaction dated Friday, July 7th. The shares were bought at an average cost of $78.28 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $80.35, for a total value of $241,050.00. Following the sale, the senior vice president now directly owns 20,404 shares in the company, valued at $1,639,461.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,586 shares of company stock worth $1,082,574. Insiders own 1.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. British Columbia Investment Management Corp raised its stake in Analog Devices by 34.2% in the first quarter. British Columbia Investment Management Corp now owns 208,526 shares of the semiconductor company’s stock valued at $17,089,000 after buying an additional 53,139 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in Analog Devices during the first quarter valued at about $63,309,000. Summit Securities Group LLC bought a new stake in Analog Devices during the first quarter valued at about $1,572,000. Norinchukin Bank The raised its stake in Analog Devices by 26.5% in the first quarter. Norinchukin Bank The now owns 23,650 shares of the semiconductor company’s stock valued at $1,938,000 after buying an additional 4,956 shares during the period. Finally, Swiss National Bank raised its stake in Analog Devices by 51.3% in the first quarter. Swiss National Bank now owns 1,291,248 shares of the semiconductor company’s stock valued at $105,818,000 after buying an additional 437,580 shares during the period. 86.88% of the stock is currently owned by institutional investors.
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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