Piper Sandler Cuts Analog Devices (NASDAQ:ADI) Price Target to $220.00

Analog Devices (NASDAQ:ADI - Get Free Report) had its price objective reduced by research analysts at Piper Sandler from $235.00 to $220.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the semiconductor company's stock. Piper Sandler's price target suggests a potential upside of 1.30% from the stock's previous close.

ADI has been the topic of several other research reports. Morgan Stanley cut their target price on Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research report on Wednesday. Oppenheimer reaffirmed an "outperform" rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $249.33.

Analog Devices Trading Down 0.9 %

Analog Devices stock traded down $1.88 during mid-day trading on Wednesday, hitting $217.17. 2,943,406 shares of the stock were exchanged, compared to its average volume of 3,243,709. The stock has a market capitalization of $107.82 billion, a price-to-earnings ratio of 65.22, a PEG ratio of 3.15 and a beta of 1.08. Analog Devices has a 12 month low of $179.63 and a 12 month high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm's fifty day simple moving average is $224.64 and its two-hundred day simple moving average is $225.86.

Insiders Place Their Bets

In other news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The trade was a 20.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,995 shares of company stock valued at $25,116,338. Corporate insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Analog Devices

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock valued at $623,399,000 after acquiring an additional 39,186 shares during the period. Swiss National Bank increased its stake in shares of Analog Devices by 0.3% in the third 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 raised its position in shares of Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock valued at $5,264,000 after purchasing an additional 7,386 shares during the period. Summit Global Investments purchased a new stake in shares of Analog Devices during the 3rd quarter valued at approximately $867,000. Finally, Versor Investments LP bought a new position in Analog Devices in the 3rd quarter worth approximately $952,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

About Analog Devices

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.