Analog Devices (NASDAQ:ADI) Price Target Raised to $220.00 at Sanford C. Bernstein

Analog Devices (NASDAQ:ADI) had its price objective upped by equities research analysts at Sanford C. Bernstein from $200.00 to $220.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the semiconductor company’s stock. Sanford C. Bernstein’s price target suggests a potential downside of 5.38% from the stock’s current price.

Other analysts also recently issued reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday. KeyCorp increased their price objective on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America increased their price target on Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a report on Thursday. Finally, Truist Financial decreased their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $239.42.

Analog Devices Stock Performance

Analog Devices stock opened at $232.51 on Thursday. The stock’s 50 day moving average is $200.67 and its 200 day moving average is $193.49. The company has a market capitalization of $115.38 billion, a P/E ratio of 54.32, a PEG ratio of 6.03 and a beta of 1.14. Analog Devices has a twelve month low of $154.99 and a twelve month high of $241.88. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.83 earnings per share. On average, equities research analysts predict that Analog Devices will post 5.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,057,745.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,707 shares of company stock valued at $4,874,613. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Several hedge funds have recently modified their holdings of the stock. Pinnacle Bancorp Inc. boosted its position in shares of Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas increased its position in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Cetera Trust Company N.A purchased a new position in Analog Devices during the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC acquired a new stake in Analog Devices during the 4th quarter worth $29,000. Finally, Riverview Trust Co acquired a new stake in shares of Analog Devices during the first quarter worth about $30,000. 86.81% of the stock is currently 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.