A number of other analysts also recently issued reports on ADI. TD Cowen dropped their price objective on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. UBS Group lifted their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday. Morgan Stanley lifted their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday. Wells Fargo & Company lifted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Barclays decreased their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $253.14.
Check Out Our Latest Research Report on ADI
NASDAQ:ADI traded up $4.00 during trading hours on Thursday, hitting $245.66. The stock had a trading volume of 1,260,755 shares, compared to its average volume of 3,590,202. The company has a 50 day simple moving average of $214.54 and a two-hundred day simple moving average of $219.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices has a one year low of $182.57 and a one year high of $247.10. The firm has a market capitalization of $121.88 billion, a price-to-earnings ratio of 74.66, a P/E/G ratio of 2.53 and a beta of 1.04.
Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm earned $1.73 EPS. The business's quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts forecast that Analog Devices will post 7.09 earnings per share for the current fiscal year.
Analog Devices declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.
In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now owns 21,983 shares of the company's stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.33% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Orion Capital Management LLC bought a new stake in Analog Devices during the fourth quarter worth about $27,000. Capital Performance Advisors LLP bought a new position in shares of Analog Devices in the third quarter worth approximately $28,000. Mainstream Capital Management LLC bought a new position in shares of Analog Devices in the fourth quarter worth approximately $30,000. Hopwood Financial Services Inc. bought a new position in shares of Analog Devices in the fourth quarter worth approximately $30,000. Finally, Cassady Schiller Wealth Management LLC lifted its stake in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares in the last quarter. Institutional investors own 86.81% of the company's stock.
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.
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