Analog Devices' (ADI) "Hold" Rating Reaffirmed at Needham & Company LLC

Analog Devices (NASDAQ:ADI - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports.

ADI has been the topic of several other reports. Barclays reduced their price target on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Piper Sandler reduced their price target on Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 price target on the stock. Finally, Morgan Stanley cut their price objective on Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $255.19.

Analog Devices Price Performance

Shares of NASDAQ ADI traded down $4.91 during trading hours on Thursday, reaching $238.91. 6,176,402 shares of the stock traded hands, compared to its average volume of 3,812,068. The company has a market capitalization of $118.52 billion, a P/E ratio of 76.09, a price-to-earnings-growth ratio of 2.76 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices has a 52-week low of $182.57 and a 52-week high of $247.10. The company's 50-day simple moving average is $215.50 and its two-hundred day simple moving average is $220.24.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $1.73 EPS. Equities research analysts forecast that Analog Devices will post 7.11 EPS for the current year.

Analog Devices declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC purchased a new position in shares of Analog Devices in the fourth quarter worth $27,000. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices in the third quarter worth $28,000. Mainstream Capital Management LLC purchased a new position in shares of Analog Devices in the fourth quarter worth $30,000. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices in the fourth quarter worth $30,000. Finally, Cassady Schiller Wealth Management LLC raised its stake in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Company Profile

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.