Analysts Set Analog Devices, Inc. (NASDAQ:ADI) Price Target at $249.80

Analog Devices, Inc. (NASDAQ:ADI) has been assigned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $252.05.

A number of analysts have recently issued reports on the stock. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and reduced their price target for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Bank of America reduced their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Morgan Stanley increased their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd.

Insider Buying and Selling at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,995 shares of company stock worth $25,116,338 over the last 90 days. 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 ADI. Ontario Teachers Pension Plan Board acquired a new stake in Analog Devices during the first quarter worth $469,000. O Shaughnessy Asset Management LLC boosted its stake in Analog Devices by 13.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 31,056 shares of the semiconductor company’s stock worth $6,143,000 after buying an additional 3,604 shares in the last quarter. Bessemer Group Inc. boosted its stake in Analog Devices by 87.7% during the first quarter. Bessemer Group Inc. now owns 33,668 shares of the semiconductor company’s stock worth $6,659,000 after buying an additional 15,735 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in Analog Devices by 39.9% during the first quarter. Lake Street Advisors Group LLC now owns 5,851 shares of the semiconductor company’s stock worth $1,157,000 after buying an additional 1,669 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Analog Devices by 292.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,000 shares of the semiconductor company’s stock worth $21,757,000 after buying an additional 81,972 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $223.58 on Tuesday. The company has a 50-day moving average of $224.88 and a two-hundred day moving average of $225.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The stock has a market cap of $111.01 billion, a price-to-earnings ratio of 67.14, a PEG ratio of 3.02 and a beta of 1.08. Analog Devices has a one year low of $179.63 and a one year high of $244.14.

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.