Analog Devices (NASDAQ:ADI) Given New $260.00 Price Target at TD Cowen

Analog Devices (NASDAQ:ADI) had its price objective cut by stock analysts at TD Cowen from $270.00 to $260.00 in a report released on Wednesday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price target would indicate a potential upside of 18.69% from the stock’s current price.

ADI has been the subject of a number of other reports. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the company 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 objective 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. Wells Fargo & Company began coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. Finally, Oppenheimer reissued an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $251.55.

Analog Devices Trading Down 2.0 %

ADI stock opened at $219.05 on Wednesday. The company has a market capitalization of $108.76 billion, a price-to-earnings ratio of 65.78, a PEG ratio of 3.15 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices has a 1-year low of $179.63 and a 1-year high of $244.14. The business has a 50 day simple moving average of $224.75 and a two-hundred day simple moving average of $225.92.

Insider Buying and Selling

In other news, Director Edward H. Frank sold 995 shares of the company’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 directly owns 3,753 shares of the company’s stock, valued at $879,365.43. This represents a 20.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,995 shares of company stock worth $25,116,338 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ADI. Tidal Investments LLC increased its holdings in Analog Devices by 9.9% in the third quarter. Tidal Investments LLC now owns 24,314 shares of the semiconductor company’s stock valued at $5,596,000 after buying an additional 2,188 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of Analog Devices by 13.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 113,055 shares of the semiconductor company’s stock valued at $26,022,000 after purchasing an additional 13,788 shares in the last quarter. Sfmg LLC raised its holdings in Analog Devices by 64.9% in the 3rd quarter. Sfmg LLC now owns 2,252 shares of the semiconductor company’s stock worth $518,000 after purchasing an additional 886 shares during the period. World Investment Advisors LLC boosted its position in Analog Devices by 4,581.5% during the third quarter. World Investment Advisors LLC now owns 42,180 shares of the semiconductor company’s stock worth $9,709,000 after purchasing an additional 41,279 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in Analog Devices by 0.9% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,680 shares of the semiconductor company’s stock valued at $1,768,000 after purchasing an additional 65 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.