Piper Sandler Issues Pessimistic Forecast for Analog Devices (NASDAQ:ADI) Stock Price

Analog Devices (NASDAQ:ADI) had its price objective decreased by Piper Sandler from $235.00 to $220.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price target would indicate a potential upside of 2.01% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Morgan Stanley lowered their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.62.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded down $3.39 during trading on Wednesday, hitting $215.66. 671,207 shares of the company were exchanged, compared to its average volume of 3,234,810. Analog Devices has a 52-week low of $179.63 and a 52-week high of $244.14. The stock has a 50 day moving average of $224.75 and a 200 day moving average of $225.92. 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 company has a market cap of $107.07 billion, a PE ratio of 64.76, a P/E/G ratio of 3.15 and a beta of 1.08.

Insider Activity

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. This represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,995 shares of company stock valued at $25,116,338. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Analog Devices in the 3rd quarter worth about $28,000. New Millennium Group LLC purchased a new position in shares of Analog Devices during the second quarter valued at approximately $29,000. Archer Investment Corp lifted its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. ORG Partners LLC boosted its holdings in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, CVA Family Office LLC grew its position in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. 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.