BMO Capital Markets Reiterates Outperform Rating for Analog Devices, Inc. (ADI)
Analog Devices, Inc. (NASDAQ:ADI)‘s stock had its “outperform” rating reissued by BMO Capital Markets in a note issued to investors on Tuesday. They presently have a $100.00 target price on the semiconductor company’s stock, up from their prior target price of $96.00. BMO Capital Markets’ target price indicates a potential upside of 19.49% from the stock’s current price.
Several other equities analysts also recently commented on ADI. Morgan Stanley restated an “overweight” rating and issued a $93.00 price target on shares of Analog Devices in a research note on Tuesday, May 9th. Zacks Investment Research downgraded shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 15th. Jefferies Group LLC restated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research note on Monday, May 22nd. Credit Suisse Group restated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research note on Friday, May 26th. Finally, B. Riley restated a “buy” rating and issued a $103.00 price target on shares of Analog Devices in a research note on Tuesday, May 30th. Twelve investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $91.81.
Analog Devices (ADI) opened at 83.99 on Tuesday. Analog Devices has a 12-month low of $59.01 and a 12-month high of $90.49. The company has a market capitalization of $30.83 billion, a P/E ratio of 32.17 and a beta of 1.30. The stock’s 50 day moving average is $79.47 and its 200-day moving average is $80.08.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted $0.82 earnings per share. Analog Devices’s revenue was up 64.9% compared to the same quarter last year. On average, equities analysts predict that Analog Devices will post $4.59 earnings per share for the current fiscal year.
In other Analog Devices news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $80.28, for a total transaction of $240,840.00. Following the completion of the sale, the senior vice president now owns 20,404 shares of the company’s stock, valued at approximately $1,638,033.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Peter Real sold 4,505 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $82.13, for a total transaction of $369,995.65. Following the sale, the senior vice president now directly owns 13,531 shares of the company’s stock, valued at approximately $1,111,301.03. The disclosure for this sale can be found here. Insiders have sold a total of 18,091 shares of company stock valued at $1,452,569 in the last three months. Insiders own 1.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Pathstone Family Office LLC increased its stake in shares of Analog Devices by 75.0% in the second quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock valued at $1,557,000 after buying an additional 15 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Analog Devices during the first quarter valued at approximately $100,000. Jacobus Wealth Management Inc. bought a new stake in shares of Analog Devices during the first quarter valued at approximately $113,000. Heritage Trust Co bought a new stake in shares of Analog Devices during the first quarter valued at approximately $114,000. Finally, Guardian Life Insurance Co. of America increased its stake in shares of Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares during the period. 86.88% of the stock is owned by institutional investors and hedge funds.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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