Citigroup Increases Analog Devices (NASDAQ:ADI) Price Target to $250.00

Analog Devices (NASDAQ:ADI) had its price target raised by Citigroup from $220.00 to $250.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm 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 issued reports on the stock. Truist Financial upped 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 upped 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 upped their price target on shares of Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America increased their price objective 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 objective 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 stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $237.75.

Analog Devices Stock Down 2.0 %

Shares of ADI stock traded down $4.84 during trading on Thursday, reaching $235.32. The company’s stock had a trading volume of 2,652,768 shares, compared to its average volume of 3,341,048. The business 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 cap 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 one year low of $154.99 and a one year high of $241.88.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the firm posted $2.83 earnings per share. The company’s quarterly revenue was down 33.8% compared to the same quarter last year. Analysts anticipate that Analog Devices will post 5.85 earnings per share for the current year.

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director James Champy sold 1,228 shares of the firm’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 in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’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 of $1,970,600.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at $10,057,745.34. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

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

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. 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 consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.