JPMorgan Chase & Co. Increases Analog Devices (NASDAQ:ADI) Price Target to $260.00

Analog Devices (NASDAQ:ADI) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $220.00 to $260.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 11.82% from the stock’s current price.

Several other brokerages have also issued reports on ADI. Bank of America lifted their target price on shares of Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald lifted their target price on shares of Analog Devices from $205.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Oppenheimer raised their price target on shares of Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Stifel Nicolaus raised their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Finally, Evercore ISI assumed coverage on Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.42.

Analog Devices Stock Performance

Shares of ADI stock opened at $232.51 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 0.98. The firm has a 50-day moving average of $200.67 and a 200-day moving average of $193.49. Analog Devices has a one year low of $154.99 and a one year high of $241.88. The company has a market cap of $115.38 billion, a P/E ratio of 54.32, a P/E/G ratio of 6.03 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the firm earned $2.83 earnings per share. The business’s revenue was down 33.8% on a year-over-year basis. Equities research analysts forecast that Analog Devices will post 5.86 EPS for the current fiscal year.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The sale was disclosed in a filing with the SEC, which is available at this link. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Institutional investors have recently added to or reduced their stakes in the stock. MGO One Seven LLC grew its stake in shares of Analog Devices by 14.6% in the third quarter. MGO One Seven LLC now owns 2,865 shares of the semiconductor company’s stock valued at $502,000 after buying an additional 366 shares in the last quarter. Syon Capital LLC purchased a new position in shares of Analog Devices in the third quarter valued at approximately $498,000. NBC Securities Inc. acquired a new position in shares of Analog Devices in the third quarter valued at approximately $123,000. Pinnacle Financial Partners Inc increased its stake in Analog Devices by 606.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 2,282 shares of the semiconductor company’s stock worth $400,000 after buying an additional 1,959 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in Analog Devices by 5.1% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,772 shares of the semiconductor company’s stock worth $310,000 after buying an additional 86 shares in the last quarter. 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.