Evercore ISI Initiates Coverage on Analog Devices (NASDAQ:ADI)

Investment analysts at Evercore ISI assumed coverage on shares of Analog Devices (NASDAQ:ADI) in a research report issued on Tuesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $254.00 price target on the semiconductor company’s stock. Evercore ISI’s target price would suggest a potential upside of 34.09% from the company’s current price.

ADI has been the topic of a number of other reports. Oppenheimer restated an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a research note on Thursday, February 22nd. Truist Financial lowered their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Barclays boosted their price objective on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. KeyCorp boosted their price objective on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Finally, Edward Jones raised Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $208.17.

Analog Devices Trading Down 0.9 %

NASDAQ ADI opened at $189.43 on Tuesday. The stock has a market capitalization of $93.94 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 4.77 and a beta of 1.17. Analog Devices has a one year low of $154.99 and a one year high of $204.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The business’s fifty day moving average is $193.18 and its 200-day moving average is $186.46.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.75 EPS. Equities research analysts predict that Analog Devices will post 5.86 EPS for the current year.

Insider Buying and Selling

In related news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,825,113 in the last quarter. 0.31% of the stock is owned by insiders.

Institutional Trading of Analog Devices

Several hedge funds and other institutional investors have recently bought and sold shares of ADI. Markel Corp raised its holdings in shares of Analog Devices by 1.4% during the first quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company’s stock valued at $178,034,000 after acquiring an additional 15,150 shares in the last quarter. Fairfield Bush & CO. bought a new position in shares of Analog Devices during the first quarter valued at approximately $82,000. United Bank raised its holdings in shares of Analog Devices by 24.7% during the first quarter. United Bank now owns 6,647 shares of the semiconductor company’s stock valued at $1,098,000 after acquiring an additional 1,315 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in shares of Analog Devices by 34.7% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,599 shares of the semiconductor company’s stock valued at $264,000 after acquiring an additional 412 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Analog Devices by 14.5% during the first quarter. Canada Pension Plan Investment Board now owns 116,085 shares of the semiconductor company’s stock valued at $19,175,000 after acquiring an additional 14,718 shares in the last quarter. 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.