Analog Devices (ADI) Posts Quarterly Results
Analog Devices (NYSE:ADI) released its earnings data on Tuesday. The company reported $0.63 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.63, AnalystRatingsNetwork.com reports. The company had revenue of $728.00 million for the quarter, compared to the consensus estimate of $716.32 million.
A number of research firms have recently commented on ADI. Analysts at B. Riley reiterated a “buy” rating on shares of Analog Devices in a research note on Wednesday, July 30th. They now have a $62.00 price target on the stock, up previously from $58.00. On a related note, analysts at Stifel Nicolaus initiated coverage on shares of Analog Devices in a research note on Friday, June 27th. They set a “buy” rating and a $66.00 price target on the stock. Finally, analysts at Sterne Agee initiated coverage on shares of Analog Devices in a research note on Friday, June 27th. They set a “buy” rating on the stock. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $57.54.
Analog Devices (NYSE:ADI) traded up 0.64% during mid-day trading on Tuesday, hitting $52.26. 2,463,495 shares of the company’s stock traded hands. Analog Devices has a 52 week low of $45.28 and a 52 week high of $56.18. The stock has a 50-day moving average of $51.78 and a 200-day moving average of $52.25. The company has a market cap of $16.417 billion and a price-to-earnings ratio of 23.00.
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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