StockNews.com initiated coverage on shares of Analog Devices (NASDAQ:ADI – Get Free Report) in a research note issued on Thursday. The firm set a “hold” rating on the semiconductor company’s stock.
Other equities analysts have also recently issued reports about the company. Piper Sandler cut Analog Devices from an “overweight” rating to a “neutral” rating and set a $190.00 target price for the company. in a report on Thursday, August 24th. Oppenheimer restated an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a report on Thursday, August 24th. The Goldman Sachs Group cut their target price on shares of Analog Devices from $204.00 to $188.00 and set a “buy” rating on the stock in a research note on Wednesday, August 23rd. Robert W. Baird dropped their price target on shares of Analog Devices from $235.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, August 24th. Finally, Wells Fargo & Company reduced their price objective on Analog Devices from $185.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 24th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.42.
View Our Latest Report on Analog Devices
Analog Devices Price Performance
Analog Devices (NASDAQ:ADI – Get Free Report) last posted its earnings results on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.52 by ($0.03). Analog Devices had a net margin of 29.23% and a return on equity of 15.20%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the business posted $2.52 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts forecast that Analog Devices will post 10.12 EPS for the current year.
Insider Activity
In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $182.60, for a total transaction of $1,826,000.00. Following the transaction, the chief executive officer now owns 70,713 shares in the company, valued at approximately $12,912,193.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 30,000 shares of company stock valued at $5,661,500. Insiders own 0.46% of the company’s stock.
Institutional Trading of Analog Devices
Large investors have recently bought and sold shares of the business. Donaldson Capital Management LLC raised its holdings in shares of Analog Devices by 1.9% in the second quarter. Donaldson Capital Management LLC now owns 2,794 shares of the semiconductor company’s stock valued at $544,000 after buying an additional 52 shares during the last quarter. Dfpg Investments LLC raised its stake in Analog Devices by 3.4% during the 2nd quarter. Dfpg Investments LLC now owns 1,610 shares of the semiconductor company’s stock valued at $315,000 after acquiring an additional 53 shares during the last quarter. Richard W. Paul & Associates LLC lifted its position in Analog Devices by 2.6% during the 1st quarter. Richard W. Paul & Associates LLC now owns 2,154 shares of the semiconductor company’s stock worth $425,000 after acquiring an additional 54 shares during the period. Heron Financial Group LLC grew its stake in shares of Analog Devices by 1.2% in the 4th quarter. Heron Financial Group LLC now owns 4,518 shares of the semiconductor company’s stock valued at $721,000 after purchasing an additional 55 shares during the last quarter. Finally, Oakworth Capital Inc. increased its holdings in shares of Analog Devices by 1.9% in the second quarter. Oakworth Capital Inc. now owns 3,026 shares of the semiconductor company’s stock valued at $589,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 85.55% of the company’s stock.
Analog Devices Company Profile
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 that include performance, integration, and software design simulation tools for accurate power supply designs.
Featured Stories
- Five stocks we like better than Analog Devices
- Find and Profitably Trade Stocks at 52-Week Lows
- Huawei Has Entered The Chips Race, Markets Still Prefer These
- What is the Euro STOXX 50 Index?
- Restaurant Stocks Go on Sale…Which Are Really on the Value Menu?
- What is an Earnings Surprise?
- 5 Reasons to Buy and Hold Exxon Mobil For 2024
Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.
