UBS Group Issues Positive Forecast for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its target price boosted by analysts at UBS Group from $275.00 to $300.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price target would indicate a potential upside of 25.57% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Barclays decreased their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Truist Financial lifted their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. TD Cowen reduced their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.19.

Analog Devices Trading Down 2.0 %

Shares of NASDAQ:ADI opened at $238.91 on Thursday. The firm has a fifty day moving average of $215.50 and a two-hundred day moving average of $220.24. The firm has a market capitalization 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 12-month low of $182.57 and a 12-month high of $247.10. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.73 EPS. On average, equities analysts expect that Analog Devices will post 7.11 EPS for the current fiscal year.

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

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 the stock. Charles Schwab Investment Management Inc. increased its stake in Analog Devices by 1.5% in the third 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 Analog Devices by 0.3% in the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after acquiring an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd increased its stake in 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 acquiring an additional 7,386 shares during the period. Curbstone Financial Management Corp bought a new stake in Analog Devices in the fourth quarter valued at about $460,000. Finally, Summit Global Investments bought a new stake in Analog Devices in the third quarter valued at about $867,000. 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.