Analog Devices (NASDAQ:ADI) Given “Outperform” Rating at Oppenheimer

Analog Devices (NASDAQ:ADIGet Rating)‘s stock had its “outperform” rating restated by equities researchers at Oppenheimer in a report issued on Thursday. They currently have a $210.00 target price on the semiconductor company’s stock. Oppenheimer’s price objective would indicate a potential upside of 42.23% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Sanford C. Bernstein raised their price target on Analog Devices to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 19th. UBS Group cut their price target on Analog Devices to $210.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. Morgan Stanley cut their price target on Analog Devices from $186.00 to $173.00 and set an “equal weight” rating for the company in a research note on Friday, June 10th. StockNews.com started coverage on Analog Devices in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, The Goldman Sachs Group cut their price target on Analog Devices from $207.00 to $183.00 and set a “buy” rating for the company in a research note on Tuesday, April 5th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $199.30.

Shares of ADI stock opened at $147.65 on Thursday. The stock has a 50-day simple moving average of $158.06 and a 200 day simple moving average of $162.60. Analog Devices has a fifty-two week low of $141.69 and a fifty-two week high of $191.95. The stock has a market capitalization of $76.75 billion, a P/E ratio of 41.83, a P/E/G ratio of 1.31 and a beta of 1.07. The company has a quick ratio of 1.53, a current ratio of 1.99 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADIGet Rating) last released its quarterly earnings results on Wednesday, May 18th. The semiconductor company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.29. Analog Devices had a return on equity of 12.11% and a net margin of 16.84%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the company posted $1.54 EPS. Analog Devices’s revenue for the quarter was up 78.9% on a year-over-year basis. On average, sell-side analysts anticipate that Analog Devices will post 9.24 earnings per share for the current year.

In other news, Director Bruce R. Evans acquired 3,650 shares of Analog Devices stock in a transaction dated Friday, June 17th. The stock was bought at an average cost of $144.16 per share, with a total value of $526,184.00. Following the completion of the transaction, the director now directly owns 104,008 shares of the company’s stock, valued at $14,993,793.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tunc Doluca sold 4,600 shares of the company’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $170.00, for a total value of $782,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,636 shares of company stock valued at $2,440,461. Insiders own 0.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ADI. Chartwell Investment Partners LLC bought a new stake in Analog Devices in the third quarter valued at approximately $1,226,000. Comerica Bank raised its stake in Analog Devices by 7.5% in the third quarter. Comerica Bank now owns 71,697 shares of the semiconductor company’s stock valued at $12,792,000 after buying an additional 4,976 shares during the period. LPL Financial LLC raised its stake in Analog Devices by 11.4% in the fourth quarter. LPL Financial LLC now owns 131,694 shares of the semiconductor company’s stock valued at $23,148,000 after buying an additional 13,495 shares during the period. Kestra Private Wealth Services LLC raised its stake in Analog Devices by 55.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 14,087 shares of the semiconductor company’s stock valued at $2,476,000 after buying an additional 5,030 shares during the period. Finally, Ieq Capital LLC increased its stake in shares of Analog Devices by 11.8% during the fourth quarter. Ieq Capital LLC now owns 12,151 shares of the semiconductor company’s stock worth $2,136,000 after purchasing an additional 1,281 shares during the period. 86.15% of the stock is owned by hedge funds and other institutional investors.

About Analog Devices (Get Rating)

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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