Analog Devices, Inc. (ADI) Upgraded at Zacks Investment Research
Analog Devices, Inc. (NASDAQ:ADI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $98.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.38% from the stock’s previous close.
According to Zacks, “Analog Devices is a leading supplier of analog and DSP integrated circuits. The company delivered better-than-expected fiscal third-quarter 2017 results beating the Zacks Consensus Estimate on both counts. Results were driven by strength across all the markets and positive contributions from Linear Technology acquisition. Analog Devices' leading market position, focus on communications, automotive and industrial markets, margin expansion initiatives and strong balance sheet are positives. However, we remain concerned about competitive pressures across several markets. Year to date, the stock has underperformed the industry it belongs to.”
A number of other research firms have also recently weighed in on ADI. Jefferies Group LLC reaffirmed a “buy” rating on shares of Analog Devices in a research note on Monday, July 10th. BidaskClub cut shares of Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Citigroup Inc. reaffirmed a “neutral” rating and set a $88.00 target price (down previously from $91.00) on shares of Analog Devices in a research note on Friday, September 1st. Raymond James Financial, Inc. started coverage on shares of Analog Devices in a research note on Friday, June 16th. They set a “market perform” rating on the stock. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $92.00 target price on shares of Analog Devices in a research note on Friday, August 4th. Eleven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Analog Devices currently has an average rating of “Buy” and a consensus target price of $92.35.
Analog Devices (NASDAQ:ADI) traded up 0.32% on Tuesday, reaching $87.99. The company’s stock had a trading volume of 1,294,094 shares. The firm’s 50 day moving average is $83.57 and its 200-day moving average is $80.49. Analog Devices has a 12 month low of $59.54 and a 12 month high of $90.49. The firm has a market cap of $32.35 billion, a P/E ratio of 43.80 and a beta of 1.30.
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, topping analysts’ consensus estimates of $1.15 by $0.11. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The company’s revenue was up 64.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, equities research analysts anticipate that Analog Devices will post $4.62 EPS for the current year.
In other Analog Devices news, Director James Champy sold 10,000 shares of Analog Devices stock in a transaction on Friday, September 1st. The shares were sold at an average price of $85.00, for a total value of $850,000.00. Following the completion of the sale, the director now directly owns 20,185 shares of the company’s stock, valued at $1,715,725. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ray Stata sold 25,000 shares of Analog Devices stock in a transaction on Friday, September 15th. The shares were sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the sale, the director now directly owns 234,481 shares of the company’s stock, valued at $19,579,163.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,494 shares of company stock valued at $10,677,931. Insiders own 1.10% of the company’s stock.
Large investors have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Analog Devices during the first quarter worth about $100,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Analog Devices by 51.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 475 shares in the last quarter. Guardian Life Insurance Co. of America increased its position in shares of Analog Devices by 18.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 223 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Analog Devices during the second quarter worth about $119,000. Finally, WFG Advisors LP increased its position in shares of Analog Devices by 26.4% during the second quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after acquiring an additional 330 shares in the last quarter. 86.67% of the stock is owned by institutional investors.
Analog Devices Company Profile
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.
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