Latest Stocks: Analog Devices, Inc. (ADI) Rating Lowered to Reduce at Nomura

Latest Stocks: Analog Devices, Inc. (ADI) Rating Lowered to Reduce at Nomura

Analog Devices, Inc. (NASDAQ:ADI) was downgraded by analysts at Nomura from a “neutral” rating to a “reduce” rating in a report released on Friday. They presently have a $72.00 target price on the semiconductor company’s stock, down from their previous target price of $80.00. Nomura’s target price would suggest a potential downside of 8.57% from the stock’s previous close.

A number of other equities analysts also recently weighed in on ADI. Zacks Investment Research upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a report on Tuesday, February 7th. B. Riley restated a “buy” rating and set a $87.00 target price on shares of Analog Devices in a report on Monday, February 13th. Royal Bank of Canada restated an “outperform” rating and set a $90.00 target price on shares of Analog Devices in a report on Wednesday, February 15th. Wells Fargo & Co downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating in a report on Thursday, February 16th. Finally, Jefferies Group LLC boosted their target price on shares of Analog Devices from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $88.67.

Analog Devices (NASDAQ ADI) opened at 78.75 on Friday. Analog Devices has a 52 week low of $52.17 and a 52 week high of $90.49. The stock’s 50 day moving average is $79.22 and its 200 day moving average is $77.51. The firm has a market cap of $24.35 billion, a price-to-earnings ratio of 26.86 and a beta of 1.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.18. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. The firm’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. Equities research analysts expect that Analog Devices will post $4.37 EPS for the current year.

In related news, Director Ray Stata sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $83.29, for a total transaction of $4,164,500.00. Following the completion of the sale, the director now owns 259,481 shares of the company’s stock, valued at $21,612,172.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Eileen Wynne sold 5,945 shares of the company’s stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $75.96, for a total transaction of $451,582.20. Following the sale, the chief accounting officer now directly owns 3,305 shares of the company’s stock, valued at approximately $251,047.80. The disclosure for this sale can be found here. Insiders have sold 182,195 shares of company stock valued at $15,165,148 in the last ninety days. 1.10% of the stock is currently owned by company insiders. Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Analog Devices by 3,292.7% in the first quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock valued at $1,888,562,000 after buying an additional 22,366,040 shares in the last quarter. Vanguard Group Inc. boosted its stake in Analog Devices by 24.3% in the first quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock valued at $2,311,428,000 after buying an additional 5,506,925 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Analog Devices by 84.6% in the first quarter. First Eagle Investment Management LLC now owns 6,520,656 shares of the semiconductor company’s stock valued at $534,368,000 after buying an additional 2,987,637 shares in the last quarter. FMR LLC boosted its stake in Analog Devices by 52.2% in the first quarter. FMR LLC now owns 7,757,023 shares of the semiconductor company’s stock valued at $635,689,000 after buying an additional 2,661,277 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Analog Devices by 34.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 10,122,821 shares of the semiconductor company’s stock valued at $652,416,000 after buying an additional 2,617,935 shares in the last quarter. 90.38% of the stock is owned by institutional investors and hedge funds.

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