Analog Devices (NASDAQ:ADI) Price Target Lowered to $227.00 at Truist Financial

Analog Devices (NASDAQ:ADI - Get Free Report) had its price objective dropped by stock analysts at Truist Financial from $233.00 to $227.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the semiconductor company's stock. Truist Financial's price objective suggests a potential upside of 5.46% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a report on Wednesday. Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $249.33.

Analog Devices Stock Performance

NASDAQ ADI traded down $3.81 during trading hours on Wednesday, reaching $215.24. The stock had a trading volume of 821,351 shares, compared to its average volume of 3,235,390. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices has a 52-week low of $179.63 and a 52-week high of $244.14. The stock has a fifty day moving average of $224.75 and a 200 day moving average of $225.92. The stock has a market cap of $106.86 billion, a P/E ratio of 64.64, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,995 shares of company stock valued at $25,116,338. Insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tidal Investments LLC grew its holdings in shares of Analog Devices by 9.9% during the third quarter. Tidal Investments LLC now owns 24,314 shares of the semiconductor company's stock worth $5,596,000 after buying an additional 2,188 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in Analog Devices by 13.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 113,055 shares of the semiconductor company's stock valued at $26,022,000 after purchasing an additional 13,788 shares during the last quarter. Sfmg LLC boosted its stake in Analog Devices by 64.9% in the 3rd quarter. Sfmg LLC now owns 2,252 shares of the semiconductor company's stock worth $518,000 after buying an additional 886 shares during the last quarter. World Investment Advisors LLC grew its holdings in Analog Devices by 4,581.5% in the 3rd quarter. World Investment Advisors LLC now owns 42,180 shares of the semiconductor company's stock valued at $9,709,000 after buying an additional 41,279 shares during the period. Finally, Pine Valley Investments Ltd Liability Co increased its stake in shares of Analog Devices by 0.9% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 7,680 shares of the semiconductor company's stock valued at $1,768,000 after acquiring an additional 65 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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.

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