Goldman Sachs Upgrades Analog Devices to Neutral (ADI)
Analog Devices (NYSE:ADI) was upgraded by analysts at Goldman Sachs from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Analyst Ratings News reports. The firm currently has a $50.00 price target on the stock, up from their previous price target of $41.00. Goldman Sachs’ price target suggests a potential downside of 5.52% from the company’s current price.
ADI has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Analog Devices from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 1st. They now have a $56.00 price target on the stock. Separately, analysts at MKM Partners raised their price target on shares of Analog Devices from $44.00 to $52.00 in a research note on Wednesday, February 19th. They now have a “neutral” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Analog Devices from $49.00 to $52.00 in a research note on Wednesday, February 19th. They now have a “neutral” rating on the stock. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $53.84.
Shares of Analog Devices (NYSE:ADI) opened at 52.92 on Monday. Analog Devices has a one year low of $41.81 and a one year high of $54.40. The stock has a 50-day moving average of $51.85 and a 200-day moving average of $49.52. The company has a market cap of $16.539 billion and a P/E ratio of 24.56.
Analog Devices (NYSE:ADI) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $628.87 million. On average, analysts predict that Analog Devices will post $2.29 earnings per share for the current fiscal year.
In other Analog Devices news, CFO David Zinsner unloaded 5,140 shares of Analog Devices stock on the open market in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $53.42, for a total transaction of $274,578.80. Following the transaction, the chief financial officer now directly owns 29,504 shares in the company, valued at approximately $1,576,104. The transaction was disclosed in a filing with the SEC, 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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