Morgan Stanley Reiterates Overweight Rating for Analog Devices, Inc. (ADI)
Analog Devices, Inc. (NASDAQ:ADI)‘s stock had its “overweight” rating restated by stock analysts at Morgan Stanley in a note issued to investors on Wednesday. They currently have a $103.00 price target on the semiconductor company’s stock, up from their previous price target of $98.00. Morgan Stanley’s target price points to a potential upside of 16.19% from the stock’s current price.
ADI has been the topic of a number of other research reports. BidaskClub raised shares of Analog Devices from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Drexel Hamilton restated a “buy” rating and issued a $105.00 target price on shares of Analog Devices in a report on Wednesday, August 30th. Jefferies Group LLC restated a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a report on Thursday, October 19th. Citigroup Inc. restated a “neutral” rating and issued a $88.00 target price (down previously from $91.00) on shares of Analog Devices in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Tuesday, October 10th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $95.58.
Analog Devices (NASDAQ:ADI) opened at $88.65 on Wednesday. The stock has a market cap of $32,679.56, a PE ratio of 18.94, a PEG ratio of 1.67 and a beta of 1.32. The company has a current ratio of 1.47, a quick ratio of 1.52 and a debt-to-equity ratio of 0.74. Analog Devices has a 1 year low of $68.42 and a 1 year high of $93.99.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.09. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The business’s revenue was up 53.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. research analysts forecast that Analog Devices will post 5.11 earnings per share for the current fiscal year.
In other Analog Devices news, SVP Peter Real sold 4,505 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $82.13, for a total value of $369,995.65. Following the completion of the transaction, the senior vice president now directly owns 13,531 shares of the company’s stock, valued at approximately $1,111,301.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Gregory N. Henderson sold 6,396 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.34, for a total transaction of $539,438.64. Following the completion of the transaction, the senior vice president now directly owns 10,327 shares of the company’s stock, valued at $870,979.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,994 shares of company stock valued at $11,370,618. 1.10% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Analog Devices by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 29,053,102 shares of the semiconductor company’s stock valued at $2,260,331,000 after buying an additional 847,762 shares in the last quarter. BlackRock Inc. raised its position in Analog Devices by 6.2% in the 2nd quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock worth $1,904,749,000 after purchasing an additional 1,437,338 shares during the period. JPMorgan Chase & Co. raised its position in Analog Devices by 1.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,692,851 shares of the semiconductor company’s stock worth $1,429,574,000 after purchasing an additional 213,714 shares during the period. Franklin Resources Inc. raised its position in Analog Devices by 54.1% in the 2nd quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock worth $719,786,000 after purchasing an additional 3,248,336 shares during the period. Finally, FMR LLC raised its position in Analog Devices by 14.6% in the 2nd quarter. FMR LLC now owns 8,889,572 shares of the semiconductor company’s stock worth $691,608,000 after purchasing an additional 1,132,549 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.
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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