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Analog Devices (NYSE:ADI) was downgraded by equities research analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a research note issued to investors on Thursday, reports. They currently have a $41.00 price objective on the stock, down from their previous price objective of $43.00. Goldman Sachs Group Inc.’s target price indicates a potential downside of 19.50% from the company’s current price. The analysts noted that the move was a valuation call.

Analog Devices (NYSE:ADI) traded down 3.02% on Thursday, hitting $49.39. 1,265,620 shares of the company’s stock traded hands. Analog Devices has a 52-week low of $41.71 and a 52-week high of $51.20. The stock’s 50-day moving average is $49.56 and its 200-day moving average is $48.05. The company has a market cap of $15.363 billion and a price-to-earnings ratio of 23.80.

Analog Devices (NYSE:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.58 by $0.04. The company had revenue of $678.00 million for the quarter, compared to the consensus estimate of $688.50 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis.

A number of other analysts have also recently weighed in on ADI. Analysts at Wells Fargo & Co. downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. Separately, analysts at Oppenheimer initiated coverage on shares of Analog Devices in a research note to investors on Thursday, December 5th. They set an “outperform” rating and a $58.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Analog Devices in a research note to investors on Wednesday, November 27th. They now have a $52.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Analog Devices has a consensus rating of “Hold” and an average price target of $49.38.

Analog Devices, Inc (NYSE:ADI) is engaged in the design, manufacture and marketing of a range of analog, mixed-signal and digital signal processing integrated circuits (ICs).

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