Analog Devices, Inc. (NASDAQ:ADI) has received a consensus rating of “Buy” from the twenty-six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $103.24.
ADI has been the topic of several recent research reports. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a research report on Tuesday, July 17th. B. Riley decreased their price target on Analog Devices from $120.00 to $117.00 and set a “buy” rating on the stock in a research report on Thursday, August 23rd. Stifel Nicolaus raised their price target on Analog Devices from $108.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. BMO Capital Markets restated a “buy” rating and issued a $107.00 price target on shares of Analog Devices in a research report on Monday, August 20th. Finally, SunTrust Banks restated a “buy” rating and issued a $118.00 price target on shares of Analog Devices in a research report on Thursday, August 30th.
ADI opened at $87.59 on Friday. Analog Devices has a 1-year low of $76.62 and a 1-year high of $103.59. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $33.42 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.23.
Analog Devices announced that its board has authorized a stock repurchase plan on Tuesday, August 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Ray Stata sold 20,000 shares of Analog Devices stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $100.30, for a total transaction of $2,006,000.00. Following the sale, the director now directly owns 171,936 shares of the company’s stock, valued at $17,245,180.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $97.19, for a total value of $971,900.00. Following the sale, the chief executive officer now directly owns 27,376 shares in the company, valued at $2,660,673.44. The disclosure for this sale can be found here. Insiders sold 88,750 shares of company stock worth $8,561,658 over the last ninety days. 1.10% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Moody National Bank Trust Division bought a new position in shares of Analog Devices during the third quarter worth about $105,000. Fort L.P. bought a new stake in Analog Devices in the second quarter worth approximately $117,000. Integrated Investment Consultants LLC bought a new stake in Analog Devices in the second quarter worth approximately $130,000. Atlas Capital Advisors LLC bought a new stake in Analog Devices in the third quarter worth approximately $146,000. Finally, Sawtooth Solutions LLC bought a new stake in Analog Devices in the second quarter worth approximately $200,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.
About Analog Devices
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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