Evercore ISI Boosts Analog Devices (NASDAQ:ADI) Price Target to $195.00

Analog Devices (NASDAQ:ADIGet Rating) had its target price increased by Evercore ISI from $185.00 to $195.00 in a report released on Wednesday, The Fly reports. Evercore ISI’s price target suggests a potential upside of 15.25% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Credit Suisse Group reaffirmed a “neutral” rating and set a $185.00 price target on shares of Analog Devices in a research note on Wednesday, November 16th. Needham & Company LLC lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Thursday, August 18th. Robert W. Baird reaffirmed an “outperform” rating and set a $220.00 price target on shares of Analog Devices in a report on Friday, August 19th. Truist Financial raised their price target on shares of Analog Devices from $209.00 to $214.00 in a report on Wednesday. Finally, Raymond James decreased their price objective on shares of Analog Devices from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, August 18th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.95.

Analog Devices Trading Up 0.5 %

Shares of ADI opened at $169.20 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average is $148.04 and its two-hundred day moving average is $155.09. Analog Devices has a twelve month low of $133.48 and a twelve month high of $188.20. The firm has a market capitalization of $87.03 billion, a P/E ratio of 32.05, a PEG ratio of 1.46 and a beta of 1.11.

Analog Devices (NASDAQ:ADIGet Rating) last released its quarterly earnings results on Tuesday, November 22nd. The semiconductor company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.58 by $0.15. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.16 billion. Analog Devices had a net margin of 22.88% and a return on equity of 13.58%. The company’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 earnings per share. On average, research analysts predict that Analog Devices will post 9.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Tunc Doluca sold 1,700 shares of Analog Devices stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $160.00, for a total value of $272,000.00. Following the completion of the sale, the director now directly owns 68,657 shares in the company, valued at $10,985,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

Institutional Trading of Analog Devices

Institutional investors and hedge funds have recently modified their holdings of the company. Vontobel Holding Ltd. lifted its stake in shares of Analog Devices by 84.8% in the second quarter. Vontobel Holding Ltd. now owns 25,836 shares of the semiconductor company’s stock worth $3,804,000 after buying an additional 11,855 shares during the last quarter. Forum Financial Management LP lifted its stake in shares of Analog Devices by 92.8% in the first quarter. Forum Financial Management LP now owns 5,910 shares of the semiconductor company’s stock worth $976,000 after buying an additional 2,844 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Analog Devices by 30.7% in the second quarter. Avantax Advisory Services Inc. now owns 5,598 shares of the semiconductor company’s stock worth $818,000 after buying an additional 1,314 shares during the last quarter. Buckley Wealth Management LLC acquired a new stake in shares of Analog Devices in the first quarter worth $211,000. Finally, Wetherby Asset Management Inc. increased its position in Analog Devices by 7.3% during the first quarter. Wetherby Asset Management Inc. now owns 12,056 shares of the semiconductor company’s stock worth $1,991,000 after acquiring an additional 820 shares during the period. 85.22% of the stock is currently owned by institutional investors and hedge funds.

About Analog Devices

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

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