Analog Devices (NASDAQ:ADI) Price Target Raised to $230.00 at Truist Financial

Analog Devices (NASDAQ:ADI) had its target price increased by stock analysts at Truist Financial from $216.00 to $230.00 in a report released on Friday,Benzinga reports. The firm currently has a “hold” rating on the semiconductor company’s stock. Truist Financial’s target price would suggest a potential upside of 7.46% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Piper Sandler cut their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Morgan Stanley cut their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. TD Cowen decreased their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.48.

Analog Devices Price Performance

Shares of ADI stock traded down $6.41 during trading hours on Friday, hitting $214.03. The company had a trading volume of 1,155,061 shares, compared to its average volume of 2,514,516. Analog Devices has a 12 month low of $182.57 and a 12 month high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The firm’s fifty day moving average is $216.74 and its 200 day moving average is $223.08. The firm has a market capitalization of $106.22 billion, a price-to-earnings ratio of 65.05, a PEG ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.01 earnings per share. On average, sell-side analysts predict that Analog Devices will post 7.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $11,029,300 over the last three months. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. ST Germain D J Co. Inc. increased its stake in Analog Devices by 25.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 6,361 shares of the semiconductor company’s stock valued at $1,351,000 after buying an additional 1,274 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Analog Devices by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 271,965 shares of the semiconductor company’s stock valued at $62,599,000 after acquiring an additional 1,055 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Analog Devices by 3.1% in the fourth quarter. Fulton Bank N.A. now owns 1,996 shares of the semiconductor company’s stock valued at $424,000 after acquiring an additional 60 shares during the last quarter. Fortem Financial Group LLC raised its holdings in Analog Devices by 1.8% during the fourth quarter. Fortem Financial Group LLC now owns 6,397 shares of the semiconductor company’s stock worth $1,359,000 after acquiring an additional 116 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its position in Analog Devices by 38.9% during the fourth quarter. CWA Asset Management Group LLC now owns 4,441 shares of the semiconductor company’s stock valued at $944,000 after purchasing an additional 1,244 shares during the last quarter. 86.81% of the stock is currently 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.