Monthly Stock Report: Analog Devices, Inc. (ADI)
Publication Date: September 22, 2024
Company Overview
Analog Devices, Inc. (ADI), headquartered in Wilmington, Massachusetts, is a leading entity in the semiconductor industry and operates within the broader technology sector. Since its establishment in 1965 and subsequent IPO in 1999, ADI has specialized in the design, manufacturing, testing, and marketing of integrated circuits, software, and subsystems. The company’s product offerings include data converters that seamlessly bridge real-world analog signals to digital data, alongside advanced power management solutions serving automotive, industrial, consumer, and communications markets.
Market Position and Growth Potential
The semiconductor sector continues to exhibit robust growth prospects amid increasing demand for chips across diverse applications, particularly in consumer electronics, automotive technology, and telecommunications. With a reported total revenue of approximately $9.7 billion, ADI is well-positioned to leverage these industry trends. Analysts project a target high price for ADI shares at $295.00, illustrating significant upside potential for investors. This outlook reflects the essential role semiconductors play in driving innovation and facilitating technological advancements across multiple industries.
Additionally, ADI boasts a total of 496,492,992 shares outstanding, with a modest short interest of 8,640,527 shares, representing approximately 1.74% of its float. This low short percent indicates positive investor sentiment, suggesting confidence in ADI’s sustained performance.
Stock Performance Analysis
Currently priced at $226.78, ADI’s shares stand moderately above the 50-day moving average of $223.87, signaling favorable positioning in the market. However, the stock has yet to reclaim its 52-week high of $244.14, reflecting some fluctuations in value, with the 52-week low marked at $154.99. Target price analysis reveals a supportive bullish outlook for ADI, bolstered by a mean recommendation score of 2.1 from 25 analysts. With consensus projections indicating a target mean price of $256.75, investors exhibit strong confidence in the company’s trajectory, reinforcing a strategic “buy” recommendation for those looking to enhance positions in semiconductor stocks.
| Metric | Value |
|---|---|
| Market Cap | $112.6b |
| Total Debt | $8.1b |
| Total Cash | $2.5b |
| Shares Outstanding | 496.5m |
| Float Shares | 493.9m |
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