TD Cowen Has Lowered Expectations for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its target price cut by equities research analysts at TD Cowen from $270.00 to $260.00 in a report issued on Wednesday, Marketbeat reports. The firm presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price target points to a potential upside of 19.72% from the company’s previous close.

ADI has been the subject of a number of other research reports. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Wells Fargo & Company began coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price on the stock. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, Morgan Stanley increased their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. 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 Price Performance

Analog Devices stock opened at $217.17 on Wednesday. The stock’s fifty day moving average price is $224.32 and its two-hundred day moving average price is $225.80. The firm has a market cap of $107.82 billion, a PE ratio of 66.01, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices has a one year low of $179.63 and a one year high of $244.14.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock valued at $24,883,200 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently modified their holdings of the company. Baader Bank Aktiengesellschaft grew its position in Analog Devices by 3.9% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after purchasing an additional 43 shares during the period. Grove Bank & Trust lifted its stake in shares of Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 43 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. Legacy Financial Advisors Inc. increased its position in shares of Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after acquiring an additional 48 shares in the last quarter. Finally, Quotient Wealth Partners LLC raised its holdings in shares of Analog Devices by 2.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Company Profile

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.