UBS Group Has Lowered Expectations for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its price target decreased by investment analysts at UBS Group from $300.00 to $295.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price target indicates a potential upside of 32.20% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Seaport Res Ptn raised shares of Analog Devices to a “strong sell” rating in a report on Wednesday, April 30th. Maxim Group assumed coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Truist Financial increased their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Finally, Williams Trading set a $245.00 price objective on Analog Devices in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $250.19.

Analog Devices Stock Up 7.5%

Shares of ADI stock traded up $15.64 on Monday, hitting $223.15. 6,058,025 shares of the stock were exchanged, compared to its average volume of 3,495,725. The business has a 50-day moving average of $196.04 and a 200 day moving average of $210.45. Analog Devices has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $110.68 billion, a P/E ratio of 71.07, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the company earned $1.73 EPS. The company’s revenue was down 3.6% on a year-over-year basis. Equities analysts anticipate that Analog Devices will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has initiated a share repurchase 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 purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer now directly owns 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now owns 186,321 shares in the company, valued at $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,934 shares of company stock worth $8,735,156. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter valued at approximately $1,755,958,000. Raymond James Financial Inc. acquired a new stake in Analog Devices in the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC grew its holdings in 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 worth $652,943,000 after purchasing an additional 3,059,349 shares during the last quarter. GAMMA Investing LLC grew its holdings in Analog Devices by 25,460.1% in the first quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company’s stock worth $446,037,000 after purchasing an additional 2,203,062 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of Analog Devices by 301.1% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company’s stock worth $335,933,000 after buying an additional 1,186,981 shares during the period. 86.81% of the stock is currently owned by institutional investors.

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.