Analog Devices (NASDAQ:ADI) Price Target Raised to $240.00

Analog Devices (NASDAQ:ADI - Get Free Report) had its price target increased by stock analysts at Wells Fargo & Company from $220.00 to $240.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the semiconductor company's stock. Wells Fargo & Company's price target indicates a potential upside of 0.46% from the stock's current price.

Other equities analysts have also recently issued reports about the company. UBS Group raised their target price on Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday. Morgan Stanley raised their target price on Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday. Benchmark raised their target price on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday. Barclays decreased their target price on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $255.19.

Analog Devices Stock Performance

Shares of ADI stock traded down $4.91 on Thursday, reaching $238.91. The stock had a trading volume of 6,176,402 shares, compared to its average volume of 3,812,068. The stock has a market cap 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. Analog Devices has a 1 year low of $182.57 and a 1 year high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.93. The company has a 50 day simple moving average of $215.50 and a 200 day simple moving average of $220.24.

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

Analog Devices declared that its board has approved a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value 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 trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ADI. Swedbank AB boosted its position in shares of Analog Devices by 6.7% during the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company's stock valued at $666,137,000 after buying an additional 180,870 shares during the period. Whittier Trust Co. boosted its position in shares of Analog Devices by 17.0% during the third quarter. Whittier Trust Co. now owns 2,693 shares of the semiconductor company's stock valued at $620,000 after buying an additional 391 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of Analog Devices by 9.5% during the third quarter. Foundations Investment Advisors LLC now owns 2,020 shares of the semiconductor company's stock valued at $465,000 after buying an additional 176 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Analog Devices by 5.0% during the third quarter. Sequoia Financial Advisors LLC now owns 12,431 shares of the semiconductor company's stock valued at $2,861,000 after buying an additional 587 shares during the period. Finally, Private Advisor Group LLC boosted its position in shares of Analog Devices by 6.4% during the third quarter. Private Advisor Group LLC now owns 20,936 shares of the semiconductor company's stock valued at $4,818,000 after buying an additional 1,264 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.