Analog Devices, Inc. (NASDAQ:ADI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $98.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.65% from the stock’s current price.
According to Zacks, “Analog Devices is a leading supplier of analog and DSP integrated circuits. The company delivered better-than-expected fiscal third-quarter 2017 results beating the Zacks Consensus Estimate on both counts. Results were driven by strength across all the markets and positive contributions from Linear Technology acquisition. Analog Devices' leading market position, focus on communications, automotive and industrial markets, margin expansion initiatives and strong balance sheet are positives. However, we remain concerned about competitive pressures across several markets. Year to date, the stock has underperformed the industry it belongs to.”
Several other equities analysts have also commented on ADI. Raymond James Financial, Inc. started coverage on shares of Analog Devices in a research note on Friday, June 16th. They issued a “market perform” rating on the stock. B. Riley reiterated a “buy” rating and issued a $103.00 price target on shares of Analog Devices in a research note on Wednesday, June 21st. Jefferies Group LLC reiterated a “buy” rating on shares of Analog Devices in a research note on Monday, July 10th. Royal Bank Of Canada restated a “buy” rating and set a $92.00 target price on shares of Analog Devices in a research report on Friday, August 4th. Finally, BidaskClub lowered shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Eleven research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $92.35.
Shares of Analog Devices (ADI) opened at 88.57 on Tuesday. The company has a 50-day moving average of $83.84 and a 200-day moving average of $80.54. Analog Devices has a 1-year low of $59.54 and a 1-year high of $90.49. The firm has a market capitalization of $32.56 billion, a PE ratio of 44.09 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The firm’s revenue was up 64.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share. Equities research analysts predict that Analog Devices will post $4.62 EPS for the current fiscal year.
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In other news, SVP Gregory N. Henderson sold 6,396 shares of Analog Devices stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.34, for a total transaction of $539,438.64. Following the completion of the transaction, the senior vice president now owns 10,327 shares of the company’s stock, valued at approximately $870,979.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenton J. Sicchitano sold 15,000 shares of Analog Devices stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $88.15, for a total value of $1,322,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 126,494 shares of company stock valued at $10,677,931 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Crow Point Partners LLC acquired a new position in shares of Analog Devices during the 3rd quarter worth $140,000. Beacon Financial Group acquired a new position in shares of Analog Devices during the 3rd quarter worth $831,000. Eqis Capital Management Inc. acquired a new position in shares of Analog Devices during the 3rd quarter worth $422,000. Intl Fcstone Inc. acquired a new position in shares of Analog Devices during the 2nd quarter worth $205,000. Finally, Achmea Investment Management B.V. raised its stake in shares of Analog Devices by 17.5% during the 2nd quarter. Achmea Investment Management B.V. now owns 33,887 shares of the semiconductor company’s stock worth $2,634,000 after buying an additional 5,058 shares during the last quarter. 86.67% of the stock is owned by institutional investors and hedge funds.
Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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