Analog Devices (NASDAQ:ADI) Shares Up 0.3% – Here’s Why

Analog Devices, Inc. (NASDAQ:ADI)’s stock price traded up 0.3% during mid-day trading on Thursday . The stock traded as high as $213.26 and last traded at $211.74. 344,502 shares changed hands during trading, a decline of 89% from the average session volume of 3,206,236 shares. The stock had previously closed at $211.01.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Morgan Stanley upped their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and decreased their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Trading Up 1.3 %

The firm has a market cap of $106.15 billion, a PE ratio of 63.59, a PEG ratio of 2.97 and a beta of 1.08. The firm has a fifty day simple moving average of $225.25 and a two-hundred day simple moving average of $225.41. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the firm earned $2.49 earnings per share. The business’s quarterly revenue was down 24.8% on a year-over-year basis. Equities analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,495 shares of company stock worth $25,229,958 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of large investors have recently made changes to their positions in the business. SkyView Investment Advisors LLC increased its position in shares of Analog Devices by 4.1% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,261 shares of the semiconductor company’s stock valued at $751,000 after acquiring an additional 128 shares during the period. Invst LLC increased its position in shares of Analog Devices by 7.7% in the 3rd quarter. Invst LLC now owns 974 shares of the semiconductor company’s stock valued at $224,000 after acquiring an additional 70 shares during the period. TCW Group Inc. boosted its holdings in Analog Devices by 10.7% in the third quarter. TCW Group Inc. now owns 15,436 shares of the semiconductor company’s stock valued at $3,553,000 after purchasing an additional 1,491 shares during the last quarter. Soltis Investment Advisors LLC purchased a new stake in Analog Devices in the third quarter valued at $1,275,000. Finally, Fortem Financial Group LLC boosted its holdings in Analog Devices by 39.3% in the third quarter. Fortem Financial Group LLC now owns 6,281 shares of the semiconductor company’s stock valued at $1,446,000 after purchasing an additional 1,771 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

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.