In a recent research report, stock analysts at Morgan Stanley have lowered their target price for Analog Devices (NASDAQ: ADI) from $185.00 to $176.00. The firm currently maintains an “equal weight” rating on the semiconductor company’s stock. According to Morgan Stanley’s price objective, there is a potential upside of 0.63% from the stock’s current price.
On Wednesday, NASDAQ ADI experienced a decline of $1.08 during mid-day trading and reached $174.89. The company had a trading volume of 251,477 shares that day, in comparison to its average volume of 3,368,993 shares. With a market capitalization of $87.15 billion, Analog Devices has a P/E ratio of 23.76 and a beta of 1.16.
Analog Devices also possesses a debt-to-equity ratio of 0.18 and exhibits favorable liquidity ratios with a current ratio of 1.71 and a quick ratio of 1.10.
When considering its performance over the past year, Analog Devices has seen fluctuations between its lowest point at $133.48 and its highest point at $200.
The firm’s fifty-day simple moving average is recorded at $178.99 while its two-hundred-day simple moving average stands at $184.46.
In terms of ownership, several large investors have recently engaged in buying and selling shares of Analog Devices. Notably, LSV Asset Management purchased new stakes in the company during the first quarter, which were valued at approximately $59,000.
Other investment firms have also increased their holdings in Analog Devices over time; Mission Wealth Management LP saw their holdings rise by 3.6% during the same period, acquiring an additional 85 shares.
Additionally, Greenwood Capital Associates LLC entered as a new investor in the first quarter with stakes valued around $4,432,000 while Merit Financial Group LLC boosted their stake in the company by 38.4%.
Deroy & Devereaux Private Investment Counsel Inc. also decided to grow its holdings in Analog Devices by 8.5% during the first quarter, resulting in additional shares valued at $451,000.
It is worth noting that institutional investors now own 85.55% of the company’s stock.
Providing insight into the company’s recent financial performance, Analog Devices released its earnings results on Wednesday, August 23rd. For the quarter, the semiconductor company reported earnings per share (EPS) of $2.49, which fell short of analysts’ consensus estimates of $2.52 by ($0.03).
Analog Devices generated revenue amounting to $3.08 billion during the quarter, slightly missing expectations set at $3.10 billion by analysts.
The net margin for Analog Devices stood at 29.23%, and its return on equity was recorded at 15.20%. The business experienced a slight decline in revenue compared to the same period previous year.
During this time frame last year, Analog Devices reported EPS of $2.52.
Based on research analysis, it is projected that Analog Devices will post EPS of 10.12 for the current fiscal year.
While Morgan Stanley has adjusted its target price for Analog Devices downwards, there remains a slight potential upside for investors considering its current stock price.
Analyst Ratings and CEO Stock Transaction Spark Interest in Analog Devices (ADI) Shares
October 11, 2023 – Shares of Analog Devices (ADI) have recently garnered attention from several equities analysts. Notably, Oppenheimer has reiterated an “outperform” rating with a target price of $215.00. Stifel Nicolaus, on the other hand, raised their price objective on ADI shares from $210.00 to $220.00 and gave the stock a “buy” rating.
Additionally, Susquehanna restated a “positive” rating and issued a target price of $215.00 for Analog Devices. Conversely, Wells Fargo & Company reduced their price target on the company’s stock from $185.00 to $175.00 and maintained an “equal weight” rating.
Providing further coverage on Analog Devices is StockNews.com, who started their analysis on October 5th by assigning a “hold” rating to the company’s shares.
Taking all these ratings into consideration, it is worth noting that eight investment analysts have rated ADI as a hold, while sixteen have issued buy ratings for the stock. According to Bloomberg’s data, Analog Devices holds an average rating of “Moderate Buy,” along with an average price target of $204.04.
Shifting gears to recent news regarding Analog Devices, CEO Vincent Roche made headlines by selling 10,000 shares of ADI stock in a transaction that took place on September 1st. The shares were sold at an average price of $182.60, resulting in a total transaction value of $1,826,000.00.
Following this sale, Roche now directly owns 70,713 shares in the company valued at approximately $12,912,193.80.
The details of this transaction were disclosed in a legal filing with the Securities & Exchange Commission (SEC), accessible through this link should one desire to delve deeper into the matter.
It is also noteworthy that company insiders currently hold 0.46% of Analog Devices’ stock.
These recent developments surrounding Analog Devices and its CEO’s stock transaction are causing a high degree of curiosity within the equities market. Investors are keenly observing how these various ratings and transactions will impact ADI’s overall performance and financial status moving forward. As each analyst provides their unique perspective, it will be interesting to witness the implications on the company’s stock value and market perception.