JPMorgan Chase & Co. Raises Analog Devices (NASDAQ:ADI) Price Target to $300.00

Analog Devices (NASDAQ:ADI) had its price objective increased by research analysts at JPMorgan Chase & Co. from $280.00 to $300.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 25.57% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley raised their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial raised their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday. Benchmark raised their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. Finally, UBS Group raised their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.19.

Analog Devices Trading Down 2.0 %

ADI opened at $238.91 on Thursday. The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $118.52 billion, a PE ratio of 76.09, a PEG ratio of 2.76 and a beta of 1.04. Analog Devices has a 1-year low of $182.57 and a 1-year high of $247.10. The firm has a 50-day moving average price of $215.50 and a two-hundred day moving average price of $220.24.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 EPS. As a group, equities analysts anticipate that Analog Devices will post 7.11 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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 that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $1,755,958,000. Raymond James Financial Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC raised its holdings in shares of Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after purchasing an additional 3,059,349 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in shares of Analog Devices by 301.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company’s stock valued at $335,933,000 after purchasing an additional 1,186,981 shares during the last quarter. 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.