Analog Devices (NASDAQ:ADI) Price Target Lowered to $225.00 at Stifel Nicolaus

Analog Devices (NASDAQ:ADI) had its price objective lowered by Stifel Nicolaus from $275.00 to $225.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 27.89% from the company’s current price.

Several other research firms have also recently weighed in on ADI. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research report on Friday, February 14th. UBS Group raised their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Truist Financial upped their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.05.

Analog Devices Trading Down 2.0 %

Shares of ADI stock opened at $175.93 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $87.26 billion, a P/E ratio of 56.03, a P/E/G ratio of 2.85 and a beta of 1.06. Analog Devices has a 12-month low of $158.65 and a 12-month high of $247.10. The firm has a 50-day moving average price of $207.12 and a 200 day moving average price of $215.03.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. Research analysts forecast that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. The trade was a 7.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,684 shares of company stock worth $5,591,600. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Broderick Brian C increased its stake in Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock valued at $16,831,000 after acquiring an additional 2,017 shares during the last quarter. Curbstone Financial Management Corp bought a new position in shares of Analog Devices in the 4th quarter valued at $460,000. Czech National Bank raised its position in Analog Devices by 6.5% in the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after purchasing an additional 6,566 shares during the last quarter. Synergy Asset Management LLC increased its stake in shares of Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after buying an additional 2,554 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in Analog Devices during the 3rd quarter worth approximately $20,194,000. 86.81% of the stock is owned by institutional investors and hedge funds.

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.