Analog Devices (ADI) Stock Hits 14 Year High

Shares of integrated circuits designer Analog Devices, Inc. (ADI) are up 8.12%, at $63.64, in early trading, after the company this morning was upgraded to ‘Overweight’ from ‘Equal Weight’ at Barclays. Approximately 5 million shares have already changed hands, compared to the stock’s average daily volume of 2.08 million shares.

During today’s trading session,  Analog gapped up at the open, extending its break out to as high as $64.60 to set a 14 year high. As the equity continues to hold its gains, some consolidation at current levels could bring in some more buyers, prompting it to hit $65/shr in a relatively short period of time.

Analog Devices, Inc., currently valued at $20.01 billion, has a median Wall Street price target of $60.00 with a high target of $75.00. In the past 52 weeks, shares have traded as a low as $42.57 with the 50-day MA and 200-day MA located at $58.25 and $53.20 levels, respectively. Additionally, shares of ADI trade at a P/E ratio of 1.78 and have a Relative Strength Index (RSI) and MACD indicator of 71.04 and +0.77, respectively.

ADI currently prints a year-to-date return of around 6.69%. Fundamentally, the stock shows the following financial data:

  • $2.87 billion in cash in most recent quarter
  • $6.86 billion t-12 total assets
  • $4.76 billion total equity
  • $3.01 billion t-12 revenue
  • $629.32 million annual net income
  • $693.69 million free cash flow

On valuation measures, Analog Devices Inc. shares have a T-12 price/sales ratio of 6.09 and a price/book for the same period of 3.82. EPS is $2.07. Currently there are 11 analysts that rate ADI a ‘Buy’, 17 rate it a ‘Hold’. No analyst rates it a ‘Sell’.

In terms of share statistics, Analog Devices Inc. has a total of 311.63 million shares outstanding with 0.91% held by insiders and 85.60% held by institutions. The stock’s short interest currently stands at 1.67%, bringing the total number of shares sold short to 5.18 million.

Offering a dividend yield of 2.51%, shares of the Norwood Massachusetts-based company are up 15.06% year-over-year.

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