Analog Devices (NASDAQ:ADI) Price Target Cut to $248.00 by Analysts at Morgan Stanley

Analog Devices (NASDAQ:ADI) had its price objective decreased by investment analysts at Morgan Stanley from $252.00 to $248.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective indicates a potential upside of 15.00% from the stock’s current price.

ADI has been the topic of several other research reports. TD Cowen decreased their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America lowered their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $251.10.

Analog Devices Trading Down 1.5 %

NASDAQ ADI traded down $3.39 during trading hours on Wednesday, hitting $215.66. 671,207 shares of the company were exchanged, compared to its average volume of 3,234,810. Analog Devices has a 52 week low of $179.63 and a 52 week high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $224.75 and a 200 day moving average price of $225.92. The stock has a market cap of $107.07 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This trade represents a 16.38 % 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 valued at $25,116,338 over the last ninety days. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Analog Devices

Several institutional investors have recently bought and sold shares of ADI. State Street Corp boosted its holdings in Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock worth $5,195,302,000 after acquiring an additional 106,664 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Analog Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after buying an additional 135,838 shares during the last quarter. FMR LLC increased its position in shares of Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after acquiring an additional 665,149 shares during the period. Van ECK Associates Corp raised its stake in Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after acquiring an additional 700,862 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Analog Devices by 21.4% during the 2nd quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock worth $993,293,000 after acquiring an additional 767,534 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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.