Analog Devices (NASDAQ:ADI) Given New $275.00 Price Target at Benchmark

Analog Devices (NASDAQ:ADI - Get Free Report) had its price objective upped by equities research analysts at Benchmark from $245.00 to $275.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Benchmark's price objective indicates a potential upside of 15.11% from the stock's current price.

Several other equities analysts have also issued reports on ADI. Wells Fargo & Company started coverage on Analog Devices in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 price target on the stock. Truist Financial boosted their price target on Analog Devices from $216.00 to $230.00 and gave the company a "hold" rating in a research note on Friday, January 10th. Piper Sandler dropped their price target on Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. Barclays dropped their price target on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Finally, Morgan Stanley dropped their price target on Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research note 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $255.19.

Analog Devices Trading Down 2.0 %

Shares of Analog Devices stock traded down $4.91 during midday trading on Thursday, reaching $238.91. The company had a trading volume of 6,176,402 shares, compared to its average volume of 3,812,068. The stock has a fifty day moving average price of $215.50 and a 200 day moving average price of $220.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.35. The firm has a market cap of $118.52 billion, a PE ratio of 76.09, a P/E/G ratio of 2.76 and a beta of 1.04. Analog Devices has a fifty-two week low of $182.57 and a fifty-two week high of $247.10.

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

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

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the 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. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ADI. Charles Schwab Investment Management Inc. lifted its holdings in Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock worth $623,399,000 after purchasing an additional 39,186 shares in the last quarter. Swiss National Bank lifted its holdings in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company's stock worth $339,012,000 after purchasing an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock worth $5,264,000 after purchasing an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp purchased a new stake in Analog Devices during the 4th quarter worth about $460,000. Finally, Summit Global Investments purchased a new stake in Analog Devices during the 3rd quarter worth about $867,000. 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.