Analog Devices (NASDAQ:ADI) Receives Buy Rating from Royal Bank of Canada
Analog Devices (NASDAQ:ADI)‘s stock had its “buy” rating reiterated by Royal Bank of Canada in a research report issued on Thursday, January 4th. They presently have a $100.00 price objective on the semiconductor company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 6.63% from the stock’s current price.
A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Tuesday, October 10th. B. Riley restated a “buy” rating and set a $113.00 price objective (up from $110.00) on shares of Analog Devices in a report on Thursday, November 16th. BidaskClub lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Saturday, September 9th. Oppenheimer restated a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a report on Friday, November 17th. Finally, Stifel Nicolaus raised their price objective on shares of Analog Devices from $97.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $97.21.
Analog Devices (NASDAQ ADI) opened at $93.78 on Thursday. Analog Devices has a 52 week low of $74.25 and a 52 week high of $98.38. The stock has a market cap of $34,592.78, a P/E ratio of 45.30, a price-to-earnings-growth ratio of 1.74 and a beta of 1.29. The company has a quick ratio of 1.13, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.
In related news, Director Kenton J. Sicchitano sold 7,500 shares of Analog Devices stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $91.45, for a total transaction of $685,875.00. Following the completion of the sale, the director now owns 25,285 shares of the company’s stock, valued at approximately $2,312,313.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 100,000 shares of Analog Devices stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $85.17, for a total transaction of $8,517,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 169,061 shares of company stock valued at $14,631,741. Insiders own 1.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. ZWJ Investment Counsel Inc. boosted its holdings in Analog Devices by 56.0% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 8,270 shares of the semiconductor company’s stock valued at $713,000 after purchasing an additional 2,970 shares during the period. Captrust Financial Advisors bought a new stake in Analog Devices in the 2nd quarter valued at about $1,130,000. Chevy Chase Trust Holdings Inc. boosted its holdings in Analog Devices by 1.4% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 320,720 shares of the semiconductor company’s stock valued at $27,636,000 after purchasing an additional 4,416 shares during the period. Renaissance Technologies LLC boosted its holdings in Analog Devices by 4.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,207,893 shares of the semiconductor company’s stock valued at $171,774,000 after purchasing an additional 94,804 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in Analog Devices by 25.4% in the 2nd quarter. Toronto Dominion Bank now owns 128,820 shares of the semiconductor company’s stock valued at $10,021,000 after purchasing an additional 26,076 shares during the period. 87.21% of the stock is owned by institutional investors and hedge funds.
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Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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