Morgan Stanley Lowers Analog Devices (NASDAQ:ADI) Price Target to $248.00

Analog Devices (NASDAQ:ADI) had its price objective reduced by investment analysts at Morgan Stanley from $252.00 to $248.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective points to a potential upside of 14.20% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. TD Cowen cut their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday. Bank of America cut their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Wells Fargo & Company assumed coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $249.33.

Analog Devices Stock Down 0.9 %

Shares of ADI stock opened at $217.17 on Wednesday. The company’s fifty day simple moving average is $224.32 and its two-hundred day simple moving average is $225.80. Analog Devices has a 52 week low of $179.63 and a 52 week high of $244.14. The stock has a market cap of $107.82 billion, a P/E ratio of 66.01, a PEG ratio of 3.15 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,000 shares of company stock worth $24,883,200. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Analog Devices

A number of hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its holdings in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the period. Tidal Investments LLC boosted its position in Analog Devices by 9.9% during the 3rd quarter. Tidal Investments LLC now owns 24,314 shares of the semiconductor company’s stock valued at $5,596,000 after acquiring an additional 2,188 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Analog Devices by 13.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 113,055 shares of the semiconductor company’s stock valued at $26,022,000 after acquiring an additional 13,788 shares during the period. Sfmg LLC raised its position in shares of Analog Devices by 64.9% in the 3rd quarter. Sfmg LLC now owns 2,252 shares of the semiconductor company’s stock worth $518,000 after acquiring an additional 886 shares in the last quarter. Finally, World Investment Advisors LLC lifted its stake in shares of Analog Devices by 4,581.5% during the 3rd quarter. World Investment Advisors LLC now owns 42,180 shares of the semiconductor company’s stock worth $9,709,000 after purchasing an additional 41,279 shares during the last quarter. 86.81% of the stock is 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.