Barclays Has Lowered Expectations for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI - Get Free Report) had its price objective cut by analysts at Barclays from $240.00 to $170.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the semiconductor company's stock. Barclays's price objective would suggest a potential downside of 4.70% from the stock's previous close.

A number of other analysts also recently weighed in on the company. UBS Group increased their price objective on Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Benchmark lifted their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Citigroup lowered their price target on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a report on Friday, April 11th. Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Finally, Wells Fargo & Company boosted their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $252.14.

Analog Devices Price Performance

Shares of ADI traded up $3.39 during midday trading on Tuesday, hitting $178.38. The company's stock had a trading volume of 644,550 shares, compared to its average volume of 3,450,556. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices has a one year low of $158.65 and a one year high of $247.10. The stock has a market capitalization of $88.47 billion, a price-to-earnings ratio of 56.89, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The company's fifty day simple moving average is $205.40 and its two-hundred day simple moving average is $213.78.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 earnings per share. As a group, equities analysts expect that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,809 shares of company stock worth $6,154,756 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Midwest Professional Planners LTD. boosted its holdings in shares of Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after buying an additional 53 shares during the last quarter. Portland Global Advisors LLC grew its position in shares of Analog Devices by 1.3% during the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after acquiring an additional 53 shares during the period. NTV Asset Management LLC increased its stake in shares of Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after purchasing an additional 54 shares during the last quarter. West Oak Capital LLC lifted its stake in Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock valued at $2,658,000 after purchasing an additional 55 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its holdings in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 55 shares during the period. 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.

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