Analog Devices (ADI) Upgraded to Buy by Bank of America

Analog Devices (NASDAQ:ADI) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, The Fly reports.

A number of other equities analysts also recently commented on the company. Morgan Stanley reiterated an “equal weight” rating on shares of Analog Devices in a research report on Wednesday, December 19th. SunTrust Banks reduced their price objective on Analog Devices to $106.00 and set a “buy” rating on the stock in a research report on Sunday, November 25th. B. Riley lifted their price objective on Analog Devices to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, November 21st. Barclays reiterated a “hold” rating and set a $102.00 price objective on shares of Analog Devices in a research report on Friday, January 18th. Finally, BidaskClub upgraded Analog Devices from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $99.55.

NASDAQ ADI opened at $100.73 on Monday. The company has a market capitalization of $37.20 billion, a PE ratio of 16.96, a PEG ratio of 1.50 and a beta of 1.24. Analog Devices has a 1-year low of $76.62 and a 1-year high of $103.59. The company has a current ratio of 1.50, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 20th. The semiconductor company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.03. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. Analog Devices had a return on equity of 20.88% and a net margin of 24.12%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 earnings per share. On average, research analysts predict that Analog Devices will post 5.42 earnings per share for the current fiscal year.

In other Analog Devices news, SVP Margaret K. Seif sold 2,700 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $100.47, for a total transaction of $271,269.00. Following the completion of the sale, the senior vice president now owns 24,517 shares of the company’s stock, valued at $2,463,222.99. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ray Stata sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $90.01, for a total value of $900,100.00. Following the sale, the director now directly owns 161,936 shares of the company’s stock, valued at approximately $14,575,859.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,803 shares of company stock valued at $3,264,080. 0.50% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. Whittier Trust Co. grew its stake in shares of Analog Devices by 3.2% in the fourth quarter. Whittier Trust Co. now owns 4,486 shares of the semiconductor company’s stock valued at $385,000 after buying an additional 139 shares in the last quarter. HL Financial Services LLC grew its stake in shares of Analog Devices by 5.5% in the fourth quarter. HL Financial Services LLC now owns 2,914 shares of the semiconductor company’s stock valued at $250,000 after buying an additional 153 shares in the last quarter. National Asset Management Inc. grew its stake in shares of Analog Devices by 6.3% in the fourth quarter. National Asset Management Inc. now owns 2,958 shares of the semiconductor company’s stock valued at $255,000 after buying an additional 176 shares in the last quarter. ETF Managers Group LLC grew its stake in shares of Analog Devices by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 1,431 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 195 shares in the last quarter. Finally, Sit Investment Associates Inc. grew its stake in shares of Analog Devices by 7.8% in the fourth quarter. Sit Investment Associates Inc. now owns 2,750 shares of the semiconductor company’s stock valued at $236,000 after buying an additional 200 shares in the last quarter. 90.66% of the stock is owned by institutional investors.

About Analog Devices

Analog Devices, Inc designs, manufactures, and markets integrated circuits (ICs), algorithms, software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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