Analog Devices, Inc. (NASDAQ:ADI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, May 15th. Bank of America Corporation restated a “buy” rating and issued a $100.00 price objective (up from $92.00) on shares of Analog Devices in a report on Friday, June 2nd. Drexel Hamilton restated a “buy” rating and issued a $105.00 price objective on shares of Analog Devices in a report on Wednesday, August 30th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $100.00 price objective (up from $90.00) on shares of Analog Devices in a report on Friday, June 2nd. Finally, Jefferies Group LLC restated a “buy” rating on shares of Analog Devices in a report on Monday, July 10th. Twelve equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $91.85.

Shares of Analog Devices (NASDAQ:ADI) traded down 0.81% during mid-day trading on Friday, reaching $80.44. 2,695,414 shares of the company’s stock traded hands. Analog Devices has a 12-month low of $59.01 and a 12-month high of $90.49. The company’s 50-day moving average price is $79.63 and its 200-day moving average price is $80.15. The stock has a market capitalization of $29.52 billion, a PE ratio of 30.81 and a beta of 1.29. Analog Devices also saw some unusual options trading activity on Wednesday. Traders acquired 15,326 call options on the stock. This represents an increase of 804% compared to the average volume of 1,696 call options.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. Analog Devices’s revenue was up 64.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 EPS. Analysts anticipate that Analog Devices will post $4.62 earnings per share for the current year.

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In related news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $80.28, for a total value of $240,840.00. Following the transaction, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $1,638,033.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Champy sold 10,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $85.00, for a total transaction of $850,000.00. Following the completion of the transaction, the director now directly owns 20,185 shares in the company, valued at $1,715,725. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,686 shares of company stock worth $3,780,282. Insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC grew its position in shares of Analog Devices by 0.3% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 3,753 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 11 shares during the last quarter. Pathstone Family Office LLC grew its position in shares of Analog Devices by 75.0% in the 2nd quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock valued at $1,557,000 after buying an additional 15 shares during the last quarter. Pitcairn Co. grew its position in shares of Analog Devices by 0.6% in the 2nd quarter. Pitcairn Co. now owns 4,719 shares of the semiconductor company’s stock valued at $367,000 after buying an additional 30 shares during the last quarter. King Luther Capital Management Corp grew its position in shares of Analog Devices by 0.9% in the 1st quarter. King Luther Capital Management Corp now owns 3,722 shares of the semiconductor company’s stock valued at $305,000 after buying an additional 32 shares during the last quarter. Finally, CENTRAL TRUST Co grew its position in shares of Analog Devices by 1.4% in the 2nd quarter. CENTRAL TRUST Co now owns 2,365 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 32 shares during the last quarter. 86.87% of the stock is currently owned by hedge funds and other institutional investors.

About Analog Devices

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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