Analog Devices, Inc. (ADI) Rating Reiterated by B. Riley
Analog Devices, Inc. (NASDAQ:ADI)‘s stock had its “buy” rating reaffirmed by research analysts at B. Riley in a research note issued on Thursday. They presently have a $113.00 price objective on the semiconductor company’s stock, up from their previous price objective of $110.00. B. Riley’s price target indicates a potential upside of 21.41% from the stock’s previous close. B. Riley also issued estimates for Analog Devices’ Q2 2019 earnings at $1.40 EPS.
A number of other equities research analysts also recently weighed in on ADI. Royal Bank Of Canada lifted their price target on shares of Analog Devices from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. BidaskClub downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. ValuEngine downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Thursday, September 21st. Instinet upgraded shares of Analog Devices from a “reduce” rating to a “neutral” rating and lifted their price target for the stock from $72.50 to $80.00 in a research note on Thursday, August 31st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $98.00 price target on shares of Analog Devices in a research note on Wednesday, September 20th. Twelve analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $93.69.
Shares of Analog Devices (ADI) traded up $2.65 on Thursday, reaching $93.07. 6,527,700 shares of the company traded hands, compared to its average volume of 2,942,775. Analog Devices has a 52-week low of $68.42 and a 52-week high of $93.99. The company has a market capitalization of $34,080.00, a price-to-earnings ratio of 21.13, a PEG ratio of 1.76 and a beta of 1.32. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.52 and a current ratio of 1.99.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Monday, November 20th. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.09. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. Analog Devices’s quarterly revenue was up 53.4% on a year-over-year basis. During the same quarter last year, the company posted $1.05 earnings per share. research analysts expect that Analog Devices will post 4.62 EPS for the current year.
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In related news, Director Ray Stata sold 25,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $83.50, for a total value of $2,087,500.00. Following the sale, the director now owns 234,481 shares in the company, valued at approximately $19,579,163.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Peter Real sold 4,505 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $82.13, for a total value of $369,995.65. Following the completion of the sale, the senior vice president now owns 13,531 shares in the company, valued at approximately $1,111,301.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,994 shares of company stock worth $11,370,618. Company insiders own 1.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Analog Devices by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 29,053,102 shares of the semiconductor company’s stock worth $2,260,331,000 after purchasing an additional 847,762 shares in the last quarter. BlackRock Inc. raised its holdings in Analog Devices by 6.2% during the second quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock valued at $1,904,749,000 after acquiring an additional 1,437,338 shares during the period. JPMorgan Chase & Co. raised its holdings in Analog Devices by 1.3% during the third quarter. JPMorgan Chase & Co. now owns 16,692,851 shares of the semiconductor company’s stock valued at $1,429,574,000 after acquiring an additional 213,714 shares during the period. Franklin Resources Inc. raised its holdings in Analog Devices by 54.1% during the second quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock valued at $719,786,000 after acquiring an additional 3,248,336 shares during the period. Finally, FMR LLC raised its holdings in Analog Devices by 14.6% during the second quarter. FMR LLC now owns 8,889,572 shares of the semiconductor company’s stock valued at $691,608,000 after acquiring an additional 1,132,549 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.
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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