Analog Devices (NASDAQ:ADI) PT Raised to $250.00 at Robert W. Baird

Analog Devices (NASDAQ:ADI – Download Free Report) in a report on Friday, Robert W. Baird raised his price target from $200 to $250, Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock. Robert W. Baird’s price target indicates a potential upside of 6.49% from the company’s current price.

Several other analysts also commented on ADI. Truist Financial raised their price target on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald increased their price target on Analog Devices from $205.00 to $240.00 and gave the company a “Neutral” rating in a report on Wednesday, May 15th. Citigroup raised their price target on Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer upped their price target on Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Finally, KeyCorp raised their price target on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday. Seven investment analysts have rated the company with a hold rating and eighteen analysts have issued a buy rating to the company. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $239.42.

Read our latest research report on ADI

Trade in analog devices increased by 0.1%

NASDAQ ADI shares were up $0.20 during trading hours on Friday, reaching $234.76. The stock’s trading volume was 1,541,719 shares, while the average trading volume was 3,352,044. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $116.49 billion, a price-to-earnings ratio of 54.80, a P/E/G ratio of 6.03 and a beta of 1.14. The company’s fifty-day moving average price is $199.92 and its two-hundred-day moving average price is $193.03. Analog Devices has a 52-week low of $154.99 and a 52-week high of $241.88.

Analog Devices (NASDAQ:ADI – Get Free Report) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, $0.14 above analyst consensus estimates of $1.26. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. Analog Devices’ quarterly revenue declined 33.8% year-over-year. During the same quarter last year, the company earned $2.83 per share. Analysts expect Analog Devices to report 5.86 EPS for the current fiscal year.

Confidential transactions in analog devices

In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction amount of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing filed with the Securities and Exchange Commission, which can be accessed at this link. In related news, VP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through the SEC’s website. Additionally, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction amount of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The announcement of this sale can be found here. Over the last 90 days, insiders have sold 24,707 shares of company stock worth $4,874,613. Insiders own 0.31% of the company’s shares.

Hedge funds weigh on analog devices

Institutional investors have recently modified their stake in the company. Vanguard Group Inc. increased its position in the analog devices segment by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Analog Devices by 8.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after purchasing an additional 1,197,215 shares during the period. Invesco Ltd. increased its holdings in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after acquiring an additional 701,367 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the period. Finally, Norges Bank acquired a new position in shares of Analog Devices during the fourth quarter worth approximately $1,225,227,000. Institutional investors and hedge funds hold 86.81% of the company’s shares.

Analog devices company profile

(Get the free report)

Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

Further reading

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