Barclays Issues Pessimistic Forecast for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its price target reduced by Barclays from $250.00 to $210.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price target suggests a potential downside of 4.18% from the stock’s current price.

A number of other research firms have also recently commented on ADI. Truist Financial increased their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Piper Sandler cut their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, Morgan Stanley dropped their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Analog Devices Trading Up 1.9 %

Shares of Analog Devices stock opened at $219.16 on Friday. The stock has a market cap of $108.77 billion, a PE ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05. Analog Devices has a 52-week low of $182.57 and a 52-week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The firm has a 50-day moving average of $215.64 and a 200-day moving average of $222.56.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period last year, the company posted $2.01 EPS. As a group, sell-side analysts forecast that Analog Devices will post 7.09 EPS for the current year.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Analog Devices by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares during the last quarter. Swiss National Bank boosted its position in shares of Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after acquiring an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in Analog Devices by 47.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares in the last quarter. Summit Global Investments acquired a new stake in shares of Analog Devices in the 3rd quarter valued at $867,000. Finally, Versor Investments LP acquired a new stake in Analog Devices in the third quarter valued at about $952,000. Institutional investors and hedge funds 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.