Analog Devices (ADI) Upgraded at Zacks Investment Research

Analog Devices (NASDAQ:ADI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Analog Devices continues to be impacted by weakness in the consumer end market. Also, declining usage of the company’s products in portable consumer applications is a major headwind. Moreover, macro uncertainty and geopolitical fears remain concerns. However, the stock has outperformed the industry it belongs to in the past one year. The company continues to benefit from its strength across industrial, automotive and communications markets. Further, the company is currently riding on positive contributions from Linear Technology acquisition. Estimates have been stable lately ahead of the company’s fiscal Q1 earnings release. The company has positive record of earnings surprises in recent quarters.”

A number of other brokerages also recently issued reports on ADI. Goldman Sachs Group downgraded Analog Devices from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $56.00 to $47.00 in a research report on Thursday, October 18th. Barclays lowered their price target on Analog Devices from $105.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 23rd. BidaskClub upgraded Analog Devices from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. ValuEngine upgraded Analog Devices from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, Summit Insights upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. One equities research 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 company. The stock currently has an average rating of “Buy” and a consensus target price of $100.65.

Analog Devices stock opened at $104.42 on Tuesday. The stock has a market cap of $38.43 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.50 and a beta of 1.24. Analog Devices has a 52 week low of $76.62 and a 52 week high of $105.09. 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 posted its earnings results on Tuesday, November 20th. The semiconductor company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.52 by $0.03. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. Analog Devices had a return on equity of 20.88% and a net margin of 24.12%. Analog Devices’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $1.45 earnings per share. Research analysts anticipate that Analog Devices will post 5.42 earnings per share for the current fiscal year.

In other news, SVP Gregory N. Henderson sold 5,003 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $84.03, for a total value of $420,402.09. Following the transaction, the senior vice president now owns 5,389 shares in the company, valued at $452,837.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Margaret K. Seif sold 2,700 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $100.47, for a total value of $271,269.00. Following the completion of the transaction, the senior vice president now owns 24,517 shares in the company, valued at approximately $2,463,222.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,803 shares of company stock worth $3,264,080. Company insiders own 0.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in Analog Devices by 3.9% during the second quarter. FMR LLC now owns 9,175,704 shares of the semiconductor company’s stock worth $880,133,000 after buying an additional 348,581 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Analog Devices during the second quarter worth approximately $2,906,000. Hemenway Trust Co LLC lifted its position in Analog Devices by 3.0% during the third quarter. Hemenway Trust Co LLC now owns 183,327 shares of the semiconductor company’s stock worth $16,950,000 after buying an additional 5,391 shares in the last quarter. Deprince Race & Zollo Inc. lifted its position in Analog Devices by 80.1% during the third quarter. Deprince Race & Zollo Inc. now owns 284,606 shares of the semiconductor company’s stock worth $26,315,000 after buying an additional 126,536 shares in the last quarter. Finally, First Hawaiian Bank purchased a new position in Analog Devices during the third quarter worth approximately $1,240,000. Institutional investors and hedge funds own 90.66% of the company’s stock.

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.

See Also: Net Margin

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