Analog Devices, Inc. (ADI) Receives “Buy” Rating from SunTrust Banks, Inc.
Analog Devices, Inc. (NASDAQ:ADI)‘s stock had its “buy” rating reissued by equities researchers at SunTrust Banks, Inc. in a report issued on Thursday. They presently have a $106.00 target price on the semiconductor company’s stock. SunTrust Banks, Inc.’s price objective would suggest a potential upside of 19.33% from the company’s previous close.
A number of other research firms have also commented on ADI. Jefferies Group LLC restated a “buy” rating on shares of Analog Devices in a research note on Monday, July 10th. BidaskClub lowered Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Citigroup Inc. reiterated a “neutral” rating and issued a $88.00 price target (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 Analog Devices in a research note on Friday, June 16th. They issued a “market perform” rating on the stock. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $92.00 price target on shares of Analog Devices in a research note on Friday, August 4th. Eleven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $92.85.
Analog Devices (NASDAQ:ADI) traded up 0.29% during mid-day trading on Thursday, hitting $88.83. The stock had a trading volume of 2,335,203 shares. Analog Devices has a one year low of $59.54 and a one year high of $90.49. The stock’s 50 day moving average price is $83.84 and its 200 day moving average price is $80.54. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 44.22 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the company earned $0.82 EPS. The company’s revenue was up 64.9% on a year-over-year basis. Analysts forecast that Analog Devices will post $4.62 EPS for the current year.
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In other news, SVP Margaret K. Seif sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $80.35, for a total value of $241,050.00. Following the transaction, the senior vice president now owns 20,404 shares in the company, valued at approximately $1,639,461.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenton J. Sicchitano sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $88.15, for a total value of $1,322,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 126,494 shares of company stock valued at $10,677,931 over the last three months. Corporate insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Pathstone Family Office LLC boosted its stake 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 worth $1,557,000 after buying an additional 15 shares during the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of Analog Devices in the 3rd quarter worth approximately $7,895,000. Lazard Asset Management LLC purchased a new position in shares of Analog Devices in the 1st quarter worth approximately $100,000. Jacobus Wealth Management Inc. purchased a new position in shares of Analog Devices in the 1st quarter worth approximately $113,000. Finally, Heritage Trust Co purchased a new position in shares of Analog Devices in the 1st quarter worth approximately $114,000. Hedge funds and other institutional investors own 86.67% of the company’s stock.
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.
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