Analog Devices (NASDAQ:ADI) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Analog Devices (NASDAQ:ADI) had its target price boosted by stock analysts at Cantor Fitzgerald from $230.00 to $250.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 11.36% from the stock’s previous close.

Other analysts have also issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Barclays reduced their price target on shares of Analog Devices from $240.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. UBS Group cut their target price on Analog Devices from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Finally, Maxim Group started coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $252.35.

Analog Devices Stock Down 0.0%

Shares of NASDAQ ADI opened at $224.49 on Monday. Analog Devices has a 1 year low of $158.65 and a 1 year high of $247.10. The company has a market capitalization of $111.34 billion, a P/E ratio of 71.49, a P/E/G ratio of 2.85 and a beta of 0.98. The company has a 50 day simple moving average of $197.36 and a 200-day simple moving average of $210.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has authorized a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. The trade was a 22.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,934 shares of company stock worth $8,735,156. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADI. EFG Asset Management North America Corp. grew its stake in shares of Analog Devices by 0.3% during the 1st quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company’s stock worth $2,866,000 after purchasing an additional 47 shares during the period. Midwest Professional Planners LTD. grew its position in Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after buying an additional 53 shares during the period. Portland Global Advisors LLC increased its holdings in Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after buying an additional 53 shares in the last quarter. Heritage Financial Services LLC lifted its position in shares of Analog Devices by 1.6% during the 1st quarter. Heritage Financial Services LLC now owns 3,317 shares of the semiconductor company’s stock valued at $669,000 after acquiring an additional 53 shares during the period. Finally, NTV Asset Management LLC boosted its stake in shares of Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 54 shares in the last quarter. 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.