Analog Devices (ADI) Coverage Initiated at Loop Capital

Investment analysts at Loop Capital assumed coverage on shares of Analog Devices (NASDAQ:ADI) in a note issued to investors on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $117.00 price target on the semiconductor company’s stock. Loop Capital’s price objective suggests a potential upside of 18.07% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. BidaskClub cut Analog Devices from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. Zacks Investment Research cut Analog Devices from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Morgan Stanley boosted their target price on Analog Devices from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, May 31st. Piper Jaffray Companies boosted their target price on Analog Devices from $99.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, May 31st. Finally, Credit Suisse Group boosted their target price on Analog Devices from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 31st. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $104.33.

ADI opened at $99.09 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.65. The company has a market cap of $36.78 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.42 and a beta of 1.26. Analog Devices has a 52 week low of $76.07 and a 52 week high of $103.59.



Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 30th. The semiconductor company reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.08. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Analog Devices had a return on equity of 20.34% and a net margin of 17.72%. The firm’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. equities research analysts expect that Analog Devices will post 5.8 earnings per share for the current fiscal year.

In related news, SVP Joseph Hassett sold 17,150 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $97.95, for a total value of $1,679,842.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $90.47, for a total value of $904,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,187 shares of company stock worth $7,395,657. Insiders own 1.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Nvwm LLC lifted its stake in Analog Devices by 9.2% in the 1st quarter. Nvwm LLC now owns 6,362 shares of the semiconductor company’s stock valued at $565,000 after buying an additional 537 shares in the last quarter. Segall Bryant & Hamill LLC lifted its stake in Analog Devices by 1.8% in the 1st quarter. Segall Bryant & Hamill LLC now owns 31,369 shares of the semiconductor company’s stock valued at $2,859,000 after buying an additional 559 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in Analog Devices by 19.9% in the 1st quarter. Checchi Capital Advisers LLC now owns 3,502 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 581 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in Analog Devices by 2.1% in the 1st quarter. Cullen Frost Bankers Inc. now owns 30,712 shares of the semiconductor company’s stock valued at $2,799,000 after buying an additional 624 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Analog Devices by 7.9% in the 1st quarter. D.A. Davidson & CO. now owns 9,530 shares of the semiconductor company’s stock valued at $868,000 after buying an additional 696 shares in the last quarter. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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