Benchmark Begins Coverage on Analog Devices (NASDAQ:ADI)

Investment analysts at Benchmark began coverage on shares of Analog Devices (NASDAQ:ADI) in a report issued on Friday, MarketBeat reports. The firm set a “buy” rating and a $245.00 price target on the semiconductor company’s stock. Benchmark’s price target points to a potential upside of 14.16% from the stock’s current price.

ADI has been the topic of a number of other reports. TD Cowen dropped their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Truist Financial lifted their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Morgan Stanley cut their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. Finally, Barclays decreased their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $248.52.

Analog Devices Price Performance

Shares of ADI opened at $214.61 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The firm has a 50-day simple moving average of $214.04 and a 200-day simple moving average of $219.71. The company has a market capitalization of $106.47 billion, a price-to-earnings ratio of 65.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04.

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 analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the firm earned $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, equities research analysts anticipate that Analog Devices will post 7.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Analog Devices

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the 3rd quarter valued at $28,000. Mainstream Capital Management LLC acquired a new position in Analog Devices during the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. purchased a new position in Analog Devices in the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC raised its stake in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Finally, Archer Investment Corp lifted its position in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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.