Analog Devices (NASDAQ:ADI) Price Target Raised to $400.00 at Cantor Fitzgerald

Analog Devices (NASDAQ:ADI) had its target price raised by stock analysts at Cantor Fitzgerald from $350.00 to $400.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 18.66% from the company’s current price.

Several other research firms have also issued reports on ADI. Cfra reiterated a “buy” rating and set a $280.00 target price on shares of Analog Devices in a report on Tuesday, November 25th. Wall Street Zen upgraded Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Bank of America lifted their price objective on Analog Devices from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Benchmark reissued a “buy” rating and issued a $285.00 target price on shares of Analog Devices in a report on Wednesday, November 26th. Finally, Oppenheimer increased their target price on Analog Devices from $265.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $318.35.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $337.10 on Tuesday. Analog Devices has a 12 month low of $158.65 and a 12 month high of $343.96. The firm has a market capitalization of $164.72 billion, a P/E ratio of 73.93, a P/E/G ratio of 1.93 and a beta of 1.03. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $297.14 and a two-hundred day simple moving average of $261.77.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period last year, the business earned $1.67 EPS. Analog Devices’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices will post 7.14 earnings per share for the current fiscal year.

Insider Activity at Analog Devices

In other news, SVP Martin Cotter sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $278.44, for a total transaction of $2,784,400.00. Following the sale, the senior vice president owned 49,664 shares of the company’s stock, valued at $13,828,444.16. This trade represents a 16.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $306.92, for a total transaction of $3,069,200.00. Following the completion of the sale, the chief executive officer owned 155,688 shares of the company’s stock, valued at $47,783,760.96. This represents a 6.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 53,544 shares of company stock valued at $15,320,417 over the last three months. 0.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Analog Devices

A number of hedge funds have recently added to or reduced their stakes in ADI. Vanguard Group Inc. boosted its stake in shares of Analog Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 50,893,276 shares of the semiconductor company’s stock worth $13,802,256,000 after buying an additional 503,970 shares during the last quarter. State Street Corp lifted its holdings in Analog Devices by 0.4% in the fourth quarter. State Street Corp now owns 23,487,584 shares of the semiconductor company’s stock valued at $6,369,833,000 after acquiring an additional 88,538 shares during the period. Geode Capital Management LLC boosted its position in Analog Devices by 5.7% in the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after purchasing an additional 633,425 shares during the last quarter. Morgan Stanley grew its stake in shares of Analog Devices by 1.9% during the 4th quarter. Morgan Stanley now owns 10,450,624 shares of the semiconductor company’s stock valued at $2,834,210,000 after purchasing an additional 194,535 shares during the period. Finally, Norges Bank purchased a new stake in shares of Analog Devices during the 4th quarter valued at about $2,215,516,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.