Analog Devices (NASDAQ:ADI) Coverage Initiated by Analysts at Evercore ISI

Analysts at Evercore ISI started coverage on shares of Analog Devices (NASDAQ:ADI) in a report released on Tuesday, Marketbeat reports. The firm set an “outperform” rating and a $254.00 price target on the semiconductor company’s stock. Evercore ISI’s price target points to a potential upside of 34.09% from the stock’s previous close.

ADI has been the subject of several other research reports. Oppenheimer restated an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a report on Thursday, February 22nd. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a report on Thursday, January 18th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. Sanford C. Bernstein cut Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price for the company. in a report on Thursday, January 4th. Finally, Barclays lifted their target price on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices Stock Performance

NASDAQ ADI opened at $189.43 on Tuesday. The stock has a market capitalization of $93.94 billion, a PE ratio of 33.89, a P/E/G ratio of 4.77 and a beta of 1.17. The business has a 50 day simple moving average of $193.18 and a two-hundred day simple moving average of $186.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices has a 1-year low of $154.99 and a 1-year high of $204.20.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.75 EPS. On average, research analysts predict that Analog Devices will post 5.86 EPS for the current fiscal year.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,825,113 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. New Mexico Educational Retirement Board grew its stake in Analog Devices by 16.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 30,586 shares of the semiconductor company’s stock worth $6,050,000 after buying an additional 4,300 shares during the last quarter. Founders Financial Securities LLC purchased a new position in Analog Devices during the 1st quarter worth $470,000. Brown Miller Wealth Management LLC grew its stake in Analog Devices by 3.2% during the 1st quarter. Brown Miller Wealth Management LLC now owns 10,571 shares of the semiconductor company’s stock worth $2,090,000 after buying an additional 330 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in Analog Devices by 9.4% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,720 shares of the semiconductor company’s stock worth $1,725,000 after buying an additional 751 shares during the last quarter. Finally, Symphony Financial Ltd. Co. purchased a new position in Analog Devices during the 1st quarter worth $204,000. 86.81% of the stock is owned by institutional investors.

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.