Morgan Stanley Increases Analog Devices (NASDAQ:ADI) Price Target to $260.00

Analog Devices (NASDAQ:ADIGet Free Report) had its price objective raised by Morgan Stanley from $221.00 to $260.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price target would indicate a potential upside of 11.82% from the stock’s current price.

ADI has been the subject of a number of other reports. KeyCorp upped their price objective on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday. Truist Financial increased their price target on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein raised their target price on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $239.42.

View Our Latest Stock Report on ADI

Analog Devices Trading Down 0.9 %

Shares of NASDAQ:ADI opened at $232.51 on Thursday. Analog Devices has a 12-month low of $154.99 and a 12-month high of $241.88. The stock has a market cap of $115.38 billion, a PE ratio of 54.32, a P/E/G ratio of 6.03 and a beta of 1.14. The business has a 50 day moving average of $200.67 and a 200-day moving average of $193.49. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADIGet Free Report) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. Analog Devices’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.83 earnings per share. As a group, equities research analysts forecast that Analog Devices will post 5.86 earnings per share for the current year.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction 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 sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly 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. Over the last ninety days, insiders sold 24,707 shares of company stock valued at $4,874,613. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Institutional investors have recently bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its stake in shares of Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares during the last quarter. USA Financial Formulas lifted its holdings in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in Analog Devices in the 3rd quarter worth about $29,000. Cetera Trust Company N.A acquired a new stake in shares of Analog Devices in the fourth quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in Analog Devices during the 4th quarter worth $29,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Company Profile

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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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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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