Analog Devices Sets New 52-Week High After Analyst Upgrade (ADI)
Analog Devices (NYSE:ADI) shares hit a new 52-week high during mid-day trading on Tuesday after Credit Suisse raised their price target on the stock from $50.00 to $55.00, AnalystRatings.NET reports. The company traded as high as $51.34 and last traded at $50.94, with a volume of 2,744,154 shares trading hands. The stock had previously closed at $50.77.
ADI has been the subject of a number of other recent research reports. 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Analog Devices presently has a consensus rating of “Hold” and a consensus price target of $50.19.
The stock has a 50-day moving average of $49.29 and a 200-day moving average of $48.57. The company has a market cap of $15.866 billion and a P/E ratio of 23.72.
Analog Devices (NYSE:ADI) last announced its 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 $2.25 EPS for the current fiscal year.
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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