Analog Devices Inc. (ADI) 2021 Stock Forecast: Bullish Outlook with 20.38% Upside

Analog Devices Inc. (NASDAQ: ADI) is 7.79% higher on its value in year-to-date trading and has touched a low of $79.07 and a high of $164.40 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ADI stock was last observed hovering at around $163.80 in the last trading session, with the day’s loss setting it -4.56% off its average median price target of $184.00 for the next 12 months. It is also 20.38% off the consensus price target high of $200.00 offered by 23 analysts, but current levels are 0.47% higher than the price target low of $160.00 for the same period.

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Currently trading at $159.24, the stock is 3.41% and 5.41% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.5 million and changing -2.78% at the moment leaves the stock 24.45% off its SMA200. ADI registered 29.72% gain for a year compared to 6-month gain of 35.58%. The firm has a 50-day simple moving average (SMA 50) of $154.82 and a 200-day simple moving average (SMA200) of $133.54.

The stock witnessed a -0.03% loss in the last 1 month and extending the period to 3 months gives it a 19.52%, and is -0.96% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.94% over the week and 2.66% over the month.

Analog Devices Inc. (ADI) has around 15900 employees, a market worth around $56.69B and $5.86B in sales. Current P/E ratio is 42.18 and Fwd P/E is 23.89. Profit margin for the company is 24.00%. Distance from 52-week low is 101.38% and -3.14% from its 52-week high. The company has generated returns on investments over the last 12 months (8.20%).

Analog Devices Inc. (ADI) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Analog Devices Inc. (ADI) is a “Buy”. 23 analysts offering their recommendations for the stock have an average rating of 1.80, where 3 rate it as a Hold and 2 think it is a “Overweight”. 17 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Analog Devices Inc. is expected to release its quarterly report on 05/26/2021 and quarterly earnings per share for the current quarter are estimated at $1.45 with sales reaching $1.6B over the same period.The EPS is expected to shrink by -10.00% this year, but quarterly earnings will post 16.00% year-over-year. Quarterly sales are estimated to grow 20.80% in year-over-year returns.

Analog Devices Inc. (ADI) Top Institutional Holders

1,351 institutions hold shares in Analog Devices Inc. (ADI), with 1.17M shares held by insiders accounting for 0.32% while institutional investors hold 94.86% of the company’s shares. The shares outstanding are 369.20M, and float is at 368.17M with Short Float at 8.10%. Institutions hold 94.55% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 31.78 million shares valued at $4.69 billion. The investor’s holdings represent 8.61% of the ADI Shares outstanding. As of Dec 30, 2020, the second largest holder is JP Morgan Chase & Company with 30.19 million shares valued at $4.46 billion to account for 8.18% of the shares outstanding. The other top investors are Blackrock Inc. which holds 29.22 million shares representing 7.92% and valued at over $4.32 billion, while State Street Corporation holds 3.45% of the shares totaling 12.73 million with a market value of $1.88 billion.

Analog Devices Inc. (ADI) Insider Activity

A total of 42 insider transactions have happened at Analog Devices Inc. (ADI) in the last six months, with sales accounting for 26 and purchases happening 16 times. The most recent transaction is an insider sale by Sondel Michael, the company’s CAO (principal acct. officer). SEC filings show that Sondel Michael sold 2,210 shares of the company’s common stock on Feb 19 at a price of $163.79 per share for a total of $0.36 million. Following the sale, the insider now owns 3948.0 shares.

Analog Devices Inc. disclosed in a document filed with the SEC on Feb 01 that ROCHE VINCENT (President & CEO) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Feb 01 and was made at $148.34 per share for $1.48 million. Following the transaction, the insider now directly holds 16957.0 shares of the ADI stock.

Still, SEC filings show that on Jan 13, CHAMPY JAMES (Director) disposed off 1,562 shares at an average price of $160.00 for $0.25 million. The insider now directly holds 38,316 shares of Analog Devices Inc. (ADI).

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Analog Devices Inc. (ADI): Who are the competitors?

The company’s main competitors (and peers) include Maxim Integrated Products Inc. (MXIM) that is trading 55.83% up over the past 12 months. ON Semiconductor Corporation (ON) is 102.05% up on the 1-year trading charts. Short interest in the company’s stock has risen 5.26% from the last report on Dec 30, 2020 to stand at a total of 28.26 million short shares sold with a short interest ratio of 10.96.

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