According to Zacks, “Analog Devices stock has outperformed the industry it belongs to in the past one year. The company continues to benefit from its strength across industrial, automotive and communications markets. Further, the company is currently riding on positive contributions from Linear Technology acquisition. Estimates have been stable lately ahead of the company’s fiscal Q2 earnings release. The company has positive record of earnings surprises in recent quarters. However, the results continues to be impacted by weakness in the consumer end market. Also, declining usage of the company’s products in portable consumer applications is a major headwind. Moreover, macro uncertainty and geopolitical fears remain concerns. Further, rising competitive pressure from Maxim and Texas Instruments poses serious threat to the company’s market position.”
Several other equities research analysts have also recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of Analog Devices in a research report on Tuesday, April 30th. BidaskClub cut shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 30th. Sanford C. Bernstein cut shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $106.00 price target on the stock. in a research report on Monday, March 25th. BMO Capital Markets boosted their price target on shares of Analog Devices to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, February 21st. Finally, Oppenheimer boosted their price target on shares of Analog Devices to $117.00 and gave the stock an “outperform” rating in a research report on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $105.67.
Analog Devices stock traded up $1.22 during midday trading on Wednesday, hitting $107.97. The company’s stock had a trading volume of 820,173 shares, compared to its average volume of 2,704,216. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.54. Analog Devices has a 12 month low of $76.62 and a 12 month high of $118.54. The stock has a market cap of $39.32 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.54 and a beta of 1.27.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.28 by $0.05. Analog Devices had a net margin of 25.42% and a return on equity of 19.99%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the business earned $1.42 earnings per share. Analog Devices’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts predict that Analog Devices will post 5.47 EPS for the current fiscal year.
In related news, CAO Eileen Wynne sold 2,736 shares of Analog Devices stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $105.28, for a total value of $288,046.08. Following the transaction, the chief accounting officer now owns 4,888 shares of the company’s stock, valued at approximately $514,608.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Margaret K. Seif sold 10,000 shares of Analog Devices stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $105.60, for a total value of $1,056,000.00. Following the transaction, the senior vice president now directly owns 13,517 shares in the company, valued at approximately $1,427,395.20. The disclosure for this sale can be found here. Insiders sold a total of 112,120 shares of company stock worth $12,114,745 in the last three months. 0.50% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Jefferies Group LLC bought a new stake in shares of Analog Devices in the 1st quarter valued at approximately $3,349,000. ExodusPoint Capital Management LP bought a new stake in shares of Analog Devices in the 1st quarter valued at approximately $1,580,000. Utah Retirement Systems grew its stake in shares of Analog Devices by 1.3% in the 1st quarter. Utah Retirement Systems now owns 69,730 shares of the semiconductor company’s stock valued at $7,341,000 after buying an additional 928 shares in the last quarter. National Pension Service grew its stake in shares of Analog Devices by 3.8% in the 1st quarter. National Pension Service now owns 419,655 shares of the semiconductor company’s stock valued at $44,177,000 after buying an additional 15,383 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new stake in shares of Analog Devices in the 1st quarter valued at approximately $729,000. 91.21% of the stock is currently owned by institutional investors.
Analog Devices Company Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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