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Analysts at Sterne Agee began coverage on shares of Analog Devices (NYSE:ADI) in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

In other Analog Devices news, Director F Grant Saviers sold 17,951 shares of Analog Devices stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $54.55, for a total value of $979,227.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

A number of other analysts have also recently weighed in on ADI. Analysts at Jefferies Group reiterated a “buy” rating on shares of Analog Devices in a research note on Tuesday, June 10th. They now have a $64.00 price target on the stock, up previously from $60.00. Separately, analysts at Macquarie reiterated an “outperform” rating on shares of Analog Devices in a research note on Tuesday, June 10th. They now have a $60.00 price target on the stock, up previously from $55.00. Finally, analysts at Argus raised their price target on shares of Analog Devices from $58.00 to $65.00 in a research note on Tuesday, June 10th. They now have a “buy” rating on the stock. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.60.

Analog Devices (NYSE:ADI) traded up 0.13% on Friday, hitting $53.62. The stock had a trading volume of 339,873 shares. Analog Devices has a 52 week low of $44.62 and a 52 week high of $56.18. The stock’s 50-day moving average is $53.17 and its 200-day moving average is $51.41. The company has a market cap of $16.844 billion and a P/E ratio of 23.72.

Analog Devices (NYSE:ADI) last released its earnings data on Tuesday, May 20th. The company reported $0.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.56 by $0.03. The company had revenue of $694.54 million for the quarter, compared to the consensus estimate of $670.93 million. During the same quarter last year, the company posted $0.52 earnings per share. Analog Devices’s revenue was up 5.4% compared to the same quarter last year. Analysts expect that Analog Devices will post $2.36 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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