Analog Devices’ (ADI) “Buy” Rating Reaffirmed at SunTrust Banks, Inc.
Analog Devices, Inc. (NASDAQ:ADI)‘s stock had its “buy” rating restated by SunTrust Banks, Inc. in a research note issued on Thursday. They presently have a $106.00 target price on the semiconductor company’s stock. SunTrust Banks, Inc.’s price objective would suggest a potential upside of 19.33% from the stock’s current price.
A number of other equities analysts also recently commented on ADI. B. Riley reiterated a “buy” rating and set a $103.00 target price on shares of Analog Devices in a research note on Tuesday, June 27th. Royal Bank Of Canada reiterated a “buy” rating and set a $92.00 target price on shares of Analog Devices in a research note on Friday, August 4th. Stifel Nicolaus reiterated a “buy” rating and set a $97.00 target price on shares of Analog Devices in a research note on Monday, September 25th. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, October 7th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Analog Devices in a research note on Monday, July 10th. Eleven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $92.85.
Analog Devices (NASDAQ:ADI) traded up 0.29% during mid-day trading on Thursday, hitting $88.83. The stock had a trading volume of 2,335,203 shares. The stock has a market cap of $32.66 billion, a P/E ratio of 44.22 and a beta of 1.30. The firm has a 50-day moving average of $83.84 and a 200-day moving average of $80.54. Analog Devices has a 52-week low of $59.54 and a 52-week high of $90.49.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The company’s revenue was up 64.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, analysts forecast that Analog Devices will post $4.62 EPS for the current fiscal year.
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In related news, Director Kenton J. Sicchitano sold 15,000 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $88.15, for a total transaction of $1,322,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $80.35, for a total transaction of $241,050.00. Following the transaction, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at $1,639,461.40. The disclosure for this sale can be found here. Insiders have sold 126,494 shares of company stock valued at $10,677,931 over the last three months. 1.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Pathstone Family Office LLC increased its holdings in Analog Devices by 75.0% in the second quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock valued at $1,557,000 after buying an additional 15 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Analog Devices in the first quarter valued at about $100,000. Guardian Life Insurance Co. of America increased its holdings in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 475 shares in the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new position in Analog Devices in the second quarter valued at about $119,000. 86.67% of the stock is owned by institutional investors.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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