Analog Devices (ADI) Upgraded by BidaskClub to Buy

Analog Devices (NASDAQ:ADI) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley reissued an “overweight” rating and set a $103.00 price objective (up previously from $98.00) on shares of Analog Devices in a research note on Wednesday, November 22nd. Stifel Nicolaus dropped their price objective on shares of Analog Devices from $100.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, November 22nd. Drexel Hamilton reissued a “buy” rating and set a $105.00 price objective on shares of Analog Devices in a research note on Tuesday, November 21st. KeyCorp reissued a “buy” rating and set a $107.00 price objective on shares of Analog Devices in a research note on Friday, November 24th. Finally, Piper Jaffray Companies initiated coverage on shares of Analog Devices in a report on Monday, December 18th. They issued a “neutral” rating and a $92.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Analog Devices has a consensus rating of “Buy” and an average price target of $97.21.

Shares of Analog Devices (NASDAQ:ADI) traded down $1.10 on Friday, hitting $96.14. 2,751,910 shares of the stock were exchanged, compared to its average volume of 2,580,000. The company has a market cap of $35,040.00, a price-to-earnings ratio of 48.56, a price-to-earnings-growth ratio of 1.80 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.13. Analog Devices has a 52-week low of $72.09 and a 52-week high of $98.38.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.36 by $0.09. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Analog Devices’s quarterly revenue was up 53.4% on a year-over-year basis. sell-side analysts expect that Analog Devices will post 5.2 earnings per share for the current fiscal year.

In other Analog Devices news, SVP Peter Real sold 4,505 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $89.43, for a total value of $402,882.15. Following the completion of the transaction, the senior vice president now directly owns 13,531 shares in the company, valued at $1,210,077.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ray Stata sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $91.70, for a total transaction of $917,000.00. Following the completion of the transaction, the director now owns 179,481 shares of the company’s stock, valued at $16,458,407.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,066 shares of company stock valued at $16,159,623. 1.10% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. ZWJ Investment Counsel Inc. boosted its position in shares of Analog Devices by 56.0% in the third quarter. ZWJ Investment Counsel Inc. now owns 8,270 shares of the semiconductor company’s stock worth $713,000 after purchasing an additional 2,970 shares during the period. Renaissance Technologies LLC boosted its position in shares of Analog Devices by 4.5% during the second quarter. Renaissance Technologies LLC now owns 2,207,893 shares of the semiconductor company’s stock worth $171,774,000 after acquiring an additional 94,804 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Analog Devices by 1.4% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 320,720 shares of the semiconductor company’s stock worth $27,636,000 after acquiring an additional 4,416 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Analog Devices by 25.4% during the second quarter. Toronto Dominion Bank now owns 128,820 shares of the semiconductor company’s stock worth $10,021,000 after acquiring an additional 26,076 shares during the last quarter. Finally, Page Arthur B boosted its position in shares of Analog Devices by 5.2% during the third quarter. Page Arthur B now owns 28,785 shares of the semiconductor company’s stock worth $2,480,000 after acquiring an additional 1,410 shares during the last quarter. Institutional investors and hedge funds own 87.08% of the company’s stock.

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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.

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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