Analog Devices (NASDAQ:ADI) Trading Up 0.2% – Should You Buy?

Analog Devices, Inc. (NASDAQ:ADI) shot up 0.2% during trading on Tuesday . The stock traded as high as $233.55 and last traded at $224.01. 2,172,232 shares changed hands during trading, a decline of 33% from the average session volume of 3,225,480 shares. The stock had previously closed at $223.58.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADI. Bank of America reduced their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Wells Fargo & Company assumed coverage on Analog Devices in a report on Friday. They issued an “equal weight” rating and a $220.00 price target on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Morgan Stanley increased their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $252.05.

Analog Devices Price Performance

The stock’s fifty day moving average price is $224.88 and its 200-day moving average price is $225.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm has a market cap of $107.79 billion, a PE ratio of 67.27, a price-to-earnings-growth ratio of 3.02 and a beta of 1.08.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The trade was a 20.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,995 shares of company stock valued at $25,116,338. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Institutional investors and hedge funds have recently made changes to their positions in the stock. Interval Partners LP acquired a new position in Analog Devices in the 1st quarter valued at about $1,978,000. B. Riley Wealth Advisors Inc. increased its stake in Analog Devices by 19.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 11,619 shares of the semiconductor company’s stock worth $2,298,000 after buying an additional 1,893 shares during the period. Tidal Investments LLC lifted its holdings in Analog Devices by 24.9% during the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock worth $6,268,000 after buying an additional 6,314 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new position in Analog Devices in the 1st quarter valued at approximately $1,374,000. Finally, Comerica Bank increased its position in shares of Analog Devices by 0.6% during the first quarter. Comerica Bank now owns 147,612 shares of the semiconductor company’s stock worth $29,196,000 after acquiring an additional 944 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Company Profile

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.