Analog Devices (NASDAQ:ADI) Earns Buy Rating from Benchmark

Analog Devices (NASDAQ:ADI)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a report issued on Wednesday,Benzinga reports. They presently have a $285.00 target price on the semiconductor company’s stock. Benchmark’s price target indicates a potential upside of 13.09% from the company’s current price.

ADI has been the subject of a number of other research reports. Piper Sandler set a $290.00 target price on Analog Devices in a report on Tuesday. BNP Paribas Exane started coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Analog Devices in a report on Wednesday, November 19th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $300.00 target price on shares of Analog Devices in a report on Tuesday. Finally, Evercore ISI set a $282.00 price target on Analog Devices and gave the stock an “outperform” rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $281.62.

Analog Devices Stock Performance

NASDAQ:ADI opened at $252.02 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.79. The firm has a market cap of $123.98 billion, a price-to-earnings ratio of 64.29, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. The firm’s fifty day moving average price is $238.83 and its 200 day moving average price is $235.61. Analog Devices has a 1-year low of $158.65 and a 1-year high of $258.13.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter last year, the business earned $1.67 EPS. The business’s revenue was up 25.9% on a year-over-year basis. On average, sell-side analysts expect that Analog Devices will post 7.14 EPS for the current year.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the sale, the chief executive officer owned 163,640 shares of the company’s stock, valued at $38,447,218. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the transaction, the director directly owned 142,571 shares of the company’s stock, valued at $32,821,269.91. The trade was a 2.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,750 shares of company stock worth $9,598,496 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Hedge funds and other institutional investors have recently modified their holdings of the company. Keyes Stange & Wooten Wealth Management LLC boosted its position in Analog Devices by 13.8% during the third quarter. Keyes Stange & Wooten Wealth Management LLC now owns 2,094 shares of the semiconductor company’s stock worth $514,000 after acquiring an additional 254 shares during the last quarter. Pointe Capital Management LLC grew its position in shares of Analog Devices by 50.2% in the third quarter. Pointe Capital Management LLC now owns 2,952 shares of the semiconductor company’s stock valued at $725,000 after purchasing an additional 986 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Analog Devices in the third quarter valued at $21,247,000. Alpine Global Management LLC purchased a new position in Analog Devices during the third quarter worth about $470,000. Finally, Ariadne Wealth Management LP acquired a new stake in Analog Devices in the 3rd quarter worth about $218,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.