Analog Devices Receives New Coverage from Analysts at Stifel Nicolaus (ADI)
Stifel Nicolaus started coverage on shares of Analog Devices (NYSE:ADI) in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $66.00 price target on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 23.25% from the company’s current price.
The analysts wrote, “We are initiating coverage of Analog Devices, Inc. (ADI) with a Buy rating on the shares and a 12-month target price of $66, comprised of a base price of $60 that represents 17.9x GAAP excluding cash P/E and our DCF analysis that yielded a range of $54-$66, plus $6 for its Hittite Microwave (HITT) acquisition.”
ADI has been the subject of a number of other recent research reports. Analysts at Stifel initiated coverage on shares of Analog Devices in a research note on Friday. They set a “buy” rating and a $66.00 price target on the stock. Separately, analysts at Sterne Agee initiated coverage on shares of Analog Devices in a research note on Friday. They set a “buy” rating on the stock. Finally, 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. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $57.60.
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 shares were sold at an average price of $54.55, for a total transaction of $979,227.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Analog Devices (NYSE:ADI) traded up 0.09% on Friday, hitting $53.5999. The stock had a trading volume of 128,523 shares. Analog Devices has a 52 week low of $44.62 and a 52 week high of $56.18. The stock has a 50-day moving average of $53.17 and a 200-day moving average of $51.41. The company has a market cap of $16.838 billion and a P/E ratio of 23.72.
Analog Devices (NYSE:ADI) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. 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).