Analog Devices ( NASDAQ:ADI ) shares are rising on better-than-expected earnings

Analog Devices, Inc. Stock (NASDAQ:ADI – Get Free Report) rose ahead of Wednesday’s market opening after the company announced better-than-expected quarterly results. The stock previously closed at $216.64 and opened at $227.79. Analog Devices stock last traded at $230.22 on volume of 774,586 shares.

The semiconductor company reported EPS of $1.40 for the quarter, which was $0.14 ahead of the consensus estimate 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 12.76% and a net margin of 24.34%. Analog Devices revenues declined 33.8% year-over-year. During the same quarter last year, the company earned $2.83 per share.

The Wall Street analyst concludes

Many research firms have recently published reports on ADI. Oppenheimer raised their price target on shares of Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Goldman Sachs Group increased their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” in a report on Thursday, February 22nd. On Monday, May 13, Jefferies Financial Group began covering analog devices in a research report. They set a “buy” rating and a $250.00 price target for the stock. On Tuesday, April 16, Evercore ISI began working on analog devices in a research report. They issued an outperform rating for the company and a target price of $254.00. Finally, Cantor Fitzgerald increased their price target on shares of Analog Devices from $205.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Seven analysts rated the company’s shares with a hold rating, and fifteen issued a buy rating. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $214.50.

Get our latest analysis of analog stocks

Insiders buying and selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the CEO now directly owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available at this link. In other news, VP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4. The shares were sold at an average price of $197.56, for a total transaction amount of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a document filed with the SEC, which can be accessed at this link. Additionally, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction amount of $1,974,000.00. Following the completion of the transaction, the CEO now owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The announcement of this sale can be found here. Over the last ninety days, insiders have sold 24,707 shares of company stock worth $4,874,613. Currently, company insiders own 0.31% of the shares.

Institutional investors are considering analog devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. In the fourth quarter, Pinnacle Bancorp Inc. increased its stake in Analog Devices shares by 101.6%. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas grew its position in the Analog Devices segment by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Cetera Trust Company NA bought a new stake in shares of Analog Devices during the 4th quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new position in Analog Devices during the fourth quarter worth approximately $29,000. Finally, Riverview Trust Co bought a new position in shares of Analog Devices during the first quarter worth approximately $30,000. Hedge funds and other institutional investors hold 86.81% of the company’s shares.

Trade in analog devices increased by 10.9%

The stock has a market value of $119.10 billion, a PE ratio of 42.96, a PEG ratio of 5.47 and a beta ratio of 1.14. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The stock’s fifty-day moving average price is $199.12 and its 200-day moving average price is $192.74.

About analog devices

(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.

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