why Analog Devices Inc. [ADI] is a Good Choice for Investors After New Price Target of $187.91

Analog Devices Inc. [NASDAQ: ADI] closed the trading session at $138.02 on 11/03/22. The day’s price range saw the stock hit a low of $137.79, while the highest price level was $141.01. The company report on November 2, 2022 that Analog Devices and AUO Team Up to Introduce Safe, Power Efficient Widescreen Displays to the Automotive Market.

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ADI’s industry-first matrix LED driver enables local dimming to enhance the in-cabin experience while improving power and safety.

Analog Devices, Inc. (Nasdaq: ADI) today announced that AUO Corporation (TPE:2409) will use ADI’s matrix LED display driver technology in their market-leading automotive widescreen display portfolio. This industry-first technology enables local dimming, significantly improving power consumption by a minimum of 50% and supporting functional safety requirements.

The stocks have a year to date performance of -21.48 percent and weekly performance of -1.89 percent. The stock has been moved at -12.78 percent over the last six months. The stock has performed -9.13 percent around the most recent 30 days and changed -22.13 percent over the most recent 3-months.

If compared to the average trading volume of 3.49M shares, ADI reached to a volume of 3705636 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Analog Devices Inc. [ADI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ADI shares is $187.91 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ADI stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Analog Devices Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on October 24, 2022. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on October 11, 2022, representing the official price target for Analog Devices Inc. stock. On February 17, 2022, analysts increased their price target for ADI shares from 220 to 225.

The Average True Range (ATR) for Analog Devices Inc. is set at 4.95, with the Price to Sales ratio for ADI stock in the period of the last 12 months amounting to 6.21. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 3.05. Price to Free Cash Flow for ADI in the course of the last twelve months was 31.11 with Quick ratio for the last quarter at 1.40.

ADI stock trade performance evaluation

Analog Devices Inc. [ADI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.89. With this latest performance, ADI shares dropped by -9.13% in over the last four-week period, additionally sinking by -12.78% over the last 6 months – not to mention a drop of -22.81% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ADI stock in for the last two-week period is set at 41.81, with the RSI for the last a single of trading hit 39.63, and the three-weeks RSI is set at 42.60 for Analog Devices Inc. [ADI]. The present Moving Average for the last 50 days of trading for this stock 146.42, while it was recorded at 142.29 for the last single week of trading, and 156.52 for the last 200 days.

Analog Devices Inc. [ADI]: An insightful look at the core fundamentals

Analog Devices Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.90.

Earnings per share (EPS) analysis for Analog Devices Inc. [ADI] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ADI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Analog Devices Inc. go to 14.68%.

Analog Devices Inc. [ADI]: Insider Ownership positions

There are presently around $61,290 million, or 88.30% of ADI stock, in the hands of institutional investors. The top three institutional holders of ADI stocks are: VANGUARD GROUP INC with ownership of 45,739,493, which is approximately 1.002% of the company’s market cap and around 0.92% of the total institutional ownership; BLACKROCK INC., holding 40,189,784 shares of the stock with an approximate value of $5.55 billion in ADI stocks shares; and JPMORGAN CHASE & CO, currently with $3.37 billion in ADI stock with ownership of nearly -7.925% of the company’s market capitalization.

Positions in Analog Devices Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 622 institutional holders increased their position in Analog Devices Inc. [NASDAQ:ADI] by around 25,104,123 shares. Additionally, 628 investors decreased positions by around 28,612,086 shares, while 192 investors held positions by with 390,349,089 shares. The mentioned changes placed institutional holdings at 444,065,298 shares, according to the latest SEC report filing. ADI stock had 108 new institutional investments in for a total of 4,828,187 shares, while 115 institutional investors sold positions of 3,042,716 shares during the same period.


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