Analog Devices (NASDAQ:ADI) Price Target Raised to $300.00

Analog Devices (NASDAQ:ADI) had its target price upped by analysts at JPMorgan Chase & Co. from $280.00 to $300.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 22.12% from the company’s previous close.

A number of other analysts have also recently commented on the stock. TD Cowen reduced their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Truist Financial upped their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company upped their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday. Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Benchmark upped their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $253.14.

Analog Devices Stock Performance

Analog Devices stock traded up $4.00 during midday trading on Thursday, reaching $245.66. 1,260,755 shares of the company traded hands, compared to its average volume of 3,590,202. The firm has a market capitalization of $121.88 billion, a price-to-earnings ratio of 74.66, a price-to-earnings-growth ratio of 2.53 and a beta of 1.04. The business has a 50 day moving average of $214.54 and a two-hundred day moving average of $219.80. Analog Devices has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 earnings per share. As a group, research analysts predict that Analog Devices will post 7.09 earnings per share for the current year.

Analog Devices declared that its board has approved a stock buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Institutional investors have recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of Analog Devices in the 4th quarter worth about $27,000. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the 3rd quarter worth about $28,000. Mainstream Capital Management LLC purchased a new position in Analog Devices in the 4th quarter worth about $30,000. Hopwood Financial Services Inc. purchased a new position in Analog Devices in the 4th quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC increased its stake in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after buying an additional 55 shares during the period. 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.