Barclays Cuts Analog Devices (NASDAQ:ADI) Price Target to $210.00

Analog Devices (NASDAQ:ADI) had its price target reduced by equities researchers at Barclays from $250.00 to $210.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price objective would suggest a potential downside of 2.33% from the company’s previous close.

A number of other analysts have also issued reports on ADI. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Truist Financial increased their target price on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company began coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. Finally, Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $247.57.

Analog Devices Stock Performance

NASDAQ:ADI opened at $215.02 on Friday. The stock has a market capitalization of $106.71 billion, a P/E ratio of 65.36, a PEG ratio of 2.43 and a beta of 1.05. 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 company has a 50 day moving average price of $216.03 and a 200 day moving average price of $222.66.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. The business 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 company’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period last year, the business posted $2.01 earnings per share. Equities research analysts forecast that Analog Devices will post 7.09 EPS for the current year.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $11,029,300 in the last ninety days. Insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Several institutional investors and hedge funds have recently bought and sold shares of ADI. Capital Performance Advisors LLP purchased a new position in Analog Devices during the 3rd quarter worth $28,000. Archer Investment Corp grew its holdings 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 buying an additional 73 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in Analog Devices in the 3rd quarter valued at about $43,000. Reston Wealth Management LLC purchased a new stake in Analog Devices during the 3rd quarter valued at approximately $48,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Analog Devices during the 3rd quarter worth approximately $80,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

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.