UBS Group Boosts Analog Devices (NASDAQ:ADI) Price Target to $300.00

Analog Devices (NASDAQ:ADI) had its target price upped by equities researchers at UBS Group from $275.00 to $300.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price objective would indicate a potential upside of 21.81% from the company’s current price.

A number of other analysts have also weighed in on the company. Morgan Stanley increased their target price on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen lowered their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Benchmark increased their price objective on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial increased their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company began coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $252.19.

Analog Devices Trading Up 1.9 %

Shares of ADI stock opened at $246.30 on Thursday. Analog Devices has a 1 year low of $182.57 and a 1 year high of $244.14. The firm has a fifty day moving average price of $214.54 and a 200-day moving average price of $219.80. The company has a market cap of $122.19 billion, a price-to-earnings ratio of 74.91, a PEG ratio of 2.53 and a beta of 1.04. 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 posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the company earned $1.73 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts predict that Analog Devices will post 7.09 earnings per share for the current year.

Analog Devices announced that its board has initiated a stock repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Large investors have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Analog Devices in the 3rd quarter worth $28,000. Orion Capital Management LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth about $27,000. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices in the fourth quarter worth about $30,000. Mainstream Capital Management LLC purchased a new position in Analog Devices in the fourth quarter valued at about $30,000. Finally, Cassady Schiller Wealth Management LLC grew its stake in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Company Profile

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.