Citigroup raises its price target on Analog Devices (NASDAQ:ADI) to $250.00

Analog Devices (NASDAQ:ADI – Download Free Report) on Thursday, Citigroup raised its price target from $220.00 to $250, according to Benzinga. The company currently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price target suggests a potential upside of 6.24% from the company’s current price.

Several other analysts have also published reports on the stock. Truist Financial raised their price target on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp raised their price target on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group raised their price target on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America raised their price target on shares of Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Oppenheimer increased their price target on shares of Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Seven investment analysts have rated the company with a hold rating and eighteen analysts have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.75.

See our latest analysis for analog devices

Analogue device stocks decreased by 2.0%

ADI shares fell $4.84 during Thursday’s session, reaching $235.32. The company’s stock traded volume was 2,652,768 shares while its average trading volume was 3,341,048. The company has a fifty-day moving average price of $199.12 and a 200-day moving average price of $192.74. 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 company has a market capitalization of $116.70 billion, a price-to-earnings ratio of 42.06, a price-to-earnings growth ratio of 5.44 and a beta of 1.14. Analog Devices has a 1-year low of $154.99 and a 1-year high of $241.88.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, which topped the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue for the quarter was $2.16 billion, compared to analyst estimates of $2.11 billion. During the same period last year, the company reported earnings per share of $2.83. The company’s quarterly revenues decreased by 33.8% compared to the same quarter last year. Analysts predict that Analog Devices will post 5.85 earnings per share for the current year.

Insiders place their bets

In other Analog Devices news, CEO James Champy sold 1,228 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 6,371 shares of the company’s stock valued at $1,259,164.44. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. 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 value of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction amount of $1,970,600.00. Following the completion of the sale, the CEO now owns 51,039 shares of the company’s stock, valued at $10,057,745.34. 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. Corporate insiders own 0.31% of the company’s shares.

Institutional inflows and outflows

Large investors have recently increased or decreased their stake in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Analog Devices by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after purchasing an additional 21,522 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new position in Analog Devices during the fourth quarter worth approximately $1,152,000. Sequoia Financial Advisors LLC increased its holdings in Analog Devices by 107.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after purchasing an additional 6,564 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Analog Devices by 37.5% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after purchasing an additional 2,215 shares in the last quarter. Finally, in the fourth quarter, Daiwa Securities Group Inc. increased its shares in Analog Devices by 4.7%. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after purchasing an additional 4,516 shares in the last quarter. Institutional investors hold 86.81% of the company’s shares.

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.

Further reading

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