KeyBanc maintained its Analog Devices [ADI] rating to the equivalent of Overweight but changed the price target to $175 from $160, in a research note dated 2021-01-06. That figure represents around a 17.74% premium from where the company’s shares closed on Tuesday. Other analysts also revised their coverage, with Evercore ISI’s analysts upgrading the shares from “an In-line” rating to “an Outperform” rating in a research note to investors issued in early November. Meanwhile, Daiwa Securities had raised its rating on ADI to “Buy” from the earlier “an Outperform”, in a research note produced for clients August 13, 2020. In addition, there was a downgrade from Edward Jones on July 14, 2020. The rater changed ADI from “a Buy” to “a Hold”.
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Is Analog Devices Inc. [NASDAQ:ADI] a Good Buy Right Now?
It should be noted that ADI technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Analog Devices Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 2.13 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 2.59 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 2.87 million shares.
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ADI Price Performance
On Wall Street, Analog Devices Inc. [NASDAQ:ADI] finished Tuesday’s session up 1.79% at $148.63. The stock went up to $148.67 at the same session while its lowest single day price was $145.1407. In the last five days, it saw a rise of about 2.73%, Analog Devices Inc. shares gained by almost 0.61% since the beginning of the year. However, the share price has dropped to as low as -1.27% below its one year high. On 01/04/21, the company shares recorded $150.54, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $144.62. The company’s shares have inclined by 27.12% in the past year. The 50-day SMA achieved is $136.80 while the 200-day SMA is $119.15. Volume dropped to 1.51 million from 2.5 million in the previous session.
Analog Devices Inc. [ADI] Valuation Measures
Notably, Analog Devices Inc. [ADI] stock cannot be classified as a good candidate in the listing of underestimated low-priced Semiconductors companies to purchase soonest possible with the prevailing 12-month PE ratio of 45.29. The measure means the stock is exchanging at a premium as compared to the 32.75x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 9.70 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.64 which means ADI serve an unattractive investment opportunity compared to its competitors.
ADI Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 146.29 level, and in case of violation of this particular level, it will cause more drop to 143.95 level. On the upper level, 151.01 is still the key resistance. The stock may increase to the subsequent resistance at 149.82. The Relative Strength Index (RSI) pinned on the 14-day chart is 65.34, implying a neutral technical stance while the MACD stands at 2.70, meaning price will increase in the next trading period. Percent R indicator moved to 20.74%, implying bullish price movement. Stochastic %K at 76.36% suggest selling the stock.
What is the short interest in Analog Devices Inc.?
Short interest in the Analog Devices Inc. stock has plunged, decreasing by -2.09 million shares to total 28.12 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 26.03 million, data from Yahoo Finance shows. The increase of 7.43% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 7.63% of the overall float for the stock.
Analog Devices Inc.’s Biggest Shareholders: Who Owns Analog Devices Inc. [ADI]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 30,447,467 shares or roughly 8.24% of the outstanding ADI shares. This means their shares have reduced by -203,274 from the 30,447,467 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, JPMorgan Investment Management, I updated stake is worth $2,695,173,045. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 6.42% stake valued at $2,541,269,899 while SSgA Funds Management, Inc. cut theirs at $2,105,621,270. During the last quarter, BlackRock Fund Advisors raised 1,102,830 of its shares in Analog Devices Inc. while SSgA Funds Management, Inc. sold -138,702 shares. The Massachusetts Financial Services’s holdings currently number 13,161,618 shares at $1956211283.34. According to the firm’s last 13F report, Lazard Asset Management LLC shares in the company at filing stood at 9,710,464 shares, roughly $1,350,531,333.
ADI Earnings Forecast For The Current Quarter
Analog Devices Inc. [ADI] is expected to report strong earnings results for the quarter ending on Jan 2021. Consensus estimates give the company expected revenues of $1.5B and an earnings per share of $1.31 for Jan 2021. Looking further ahead, the company is expected to report revenue of $1.53B at an EPS of $1.37 for Apr 2021. The estimates represent upside of 7.00% and 11.42% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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ADI Earnings Estimates For The Current Year
For the financial year, Analog Devices Inc. [NASDAQ:ADI] is expected to bring in revenue of $6.25B. The returns are nearly $650.0 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 5.68, higher than that of FY20 by $0.77. Estimates put this year’s earnings growth at 15.70%, 11.40% for the next, and at an annual 11.47% over the next 5-year period. As for sales, forecasts are for an increase of 11.50% in the current fiscal year and a further 7.00% over the following year.
