TD Cowen Increases Analog Devices (NASDAQ:ADI) Price Target to $270.00

Analog Devices (NASDAQ:ADI) had its target price lifted by investment analysts at TD Cowen from $210.00 to $270.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price would suggest a potential upside of 16.12% from the stock’s previous close.

A number of other brokerages have also commented on ADI. Stifel Nicolaus raised their price objective on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Cantor Fitzgerald increased their price objective on Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. raised their price target on Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America lifted their target price on shares of Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Evercore ISI started coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $239.42.

Analog Devices Price Performance

NASDAQ ADI opened at $232.51 on Thursday. The company has a 50-day moving average price of $200.67 and a two-hundred day moving average price of $193.49. The stock has a market cap of $115.38 billion, a price-to-earnings ratio of 54.32, a price-to-earnings-growth ratio of 6.03 and a beta of 1.14. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Analog Devices has a 52 week low of $154.99 and a 52 week high of $241.88.

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 business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s revenue was down 33.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.83 earnings per share. Analysts forecast that Analog Devices will post 5.86 EPS for the current year.

Insider Buying and Selling at Analog Devices

In other news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,707 shares of company stock valued at $4,874,613. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Large investors have recently modified their holdings of the business. Cetera Advisors LLC raised its position in shares of Analog Devices by 59.5% in the first quarter. Cetera Advisors LLC now owns 12,998 shares of the semiconductor company’s stock worth $2,571,000 after buying an additional 4,850 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Analog Devices by 588.7% during the first quarter. Cetera Investment Advisers now owns 94,201 shares of the semiconductor company’s stock worth $18,632,000 after purchasing an additional 80,522 shares in the last quarter. Farallon Capital Management LLC raised its stake in Analog Devices by 3.3% in the first quarter. Farallon Capital Management LLC now owns 1,537,990 shares of the semiconductor company’s stock valued at $304,199,000 after purchasing an additional 48,890 shares in the last quarter. PGGM Investments bought a new stake in Analog Devices during the first quarter valued at approximately $166,000. Finally, Atria Investments Inc increased its holdings in shares of Analog Devices by 0.4% in the 1st quarter. Atria Investments Inc now owns 36,143 shares of the semiconductor company’s stock worth $7,149,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Company Profile

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.