BidaskClub cut shares of Analog Devices, Inc. (NASDAQ:ADI) from a buy rating to a hold rating in a research note published on Friday.
Other research analysts have also recently issued reports about the stock. B. Riley reissued a buy rating and issued a $110.00 price objective on shares of Analog Devices in a research note on Sunday, August 27th. Royal Bank Of Canada reissued a buy rating and issued a $92.00 price objective on shares of Analog Devices in a research note on Friday, August 4th. Drexel Hamilton reissued a buy rating and issued a $105.00 price objective on shares of Analog Devices in a research note on Wednesday, August 30th. Stifel Nicolaus reissued a buy rating and issued a $97.00 price objective on shares of Analog Devices in a research note on Monday, September 25th. Finally, Zacks Investment Research raised shares of Analog Devices from a hold rating to a buy rating and set a $98.00 price objective on the stock in a research note on Tuesday, October 10th. Twelve investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Analog Devices currently has an average rating of Buy and an average target price of $93.65.
Shares of Analog Devices (NASDAQ ADI) traded down $0.11 during trading hours on Friday, reaching $89.59. 2,736,300 shares of the company were exchanged, compared to its average volume of 1,762,817. The company has a market capitalization of $32,939.38, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.99 and a quick ratio of 1.52. Analog Devices has a fifty-two week low of $64.11 and a fifty-two week high of $92.96.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The firm’s quarterly revenue was up 64.9% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. sell-side analysts predict that Analog Devices will post 4.6 EPS for the current fiscal year.
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In related news, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $77.81, for a total value of $233,430.00. Following the transaction, the senior vice president now owns 20,404 shares in the company, valued at $1,587,635.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Champy sold 12,500 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,125,000.00. Following the completion of the transaction, the director now owns 21,910 shares in the company, valued at approximately $1,971,900. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,994 shares of company stock worth $11,604,048. 1.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Analog Devices by 51.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 475 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Analog Devices during the second quarter valued at about $119,000. WFG Advisors LP raised its holdings in shares of Analog Devices by 26.4% during the second quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 330 shares during the period. Rockefeller Financial Services Inc. raised its holdings in shares of Analog Devices by 7,478.3% during the second quarter. Rockefeller Financial Services Inc. now owns 1,743 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 1,720 shares during the period. Finally, NEXT Financial Group Inc raised its holdings in shares of Analog Devices by 64.4% during the third quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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