Analog Devices Given Consensus Rating of “Hold” by Brokerages (NYSE:ADI)
Analog Devices (NYSE:ADI) has earned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the company, Analyst Ratings Net reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $49.88.
Shares of Analog Devices (NYSE:ADI) traded up 0.40% on Wednesday, hitting $49.95. The stock had a trading volume of 386,414 shares. Analog Devices has a 52 week low of $41.81 and a 52 week high of $51.20. The stock has a 50-day moving average of $49.31 and a 200-day moving average of $48.55. The company has a market cap of $15.537 billion and a price-to-earnings ratio of 23.25.
Analog Devices (NYSE:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts expect that Analog Devices will post $2.24 EPS for the current fiscal year.
A number of research firms have recently commented on ADI. Analysts at Drexel Hamilton upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Thursday, January 16th. They now have a $60.00 price target on the stock, up previously from $48.00. Separately, analysts at Zacks downgraded shares of Analog Devices from a “neutral” rating to an “underperform” rating in a research note on Friday, January 10th. They now have a $45.00 price target on the stock. Finally, analysts at Goldman Sachs downgraded shares of Analog Devices from a “neutral” rating to a “sell” rating in a research note on Thursday, January 2nd. They now have a $41.00 price target on the stock, down previously from $43.00. They noted that the move was a valuation call.
In other Analog Devices news, CFO David Zinsner sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $47.96, for a total value of $239,800.00. Following the sale, the chief financial officer now directly owns 25,229 shares of the company’s stock, valued at approximately $1,209,983. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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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