BidaskClub Lowers Analog Devices (ADI) to Hold

BidaskClub cut shares of Analog Devices (NASDAQ:ADI) from a buy rating to a hold rating in a research report released on Thursday morning.

Several other research firms have also recently commented on ADI. Jefferies Group increased their price target on shares of Analog Devices to $110.00 and gave the company a buy rating in a research note on Wednesday, November 22nd. Stifel Nicolaus decreased their price target 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. B. Riley increased their price target on shares of Analog Devices from $110.00 to $113.00 and gave the company a buy rating in a research note on Wednesday, November 22nd. Morgan Stanley reissued an overweight rating and set a $103.00 price target (up from $98.00) on shares of Analog Devices in a research note on Wednesday, November 22nd. Finally, KeyCorp reissued a buy rating and set a $107.00 price target on shares of Analog Devices in a research note on Friday, November 24th. Twelve analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $97.21.

Shares of Analog Devices (NASDAQ ADI) opened at $92.02 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.13 and a current ratio of 1.47. The firm has a market cap of $33,920.00, a PE ratio of 46.47, a price-to-earnings-growth ratio of 1.70 and a beta of 1.29. Analog Devices has a 52 week low of $71.85 and a 52 week high of $93.99.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $1.50 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. Analog Devices’s revenue was up 53.4% compared to the same quarter last year. sell-side analysts predict that Analog Devices will post 5.2 EPS for the current fiscal year.

In other Analog Devices news, Director James Champy sold 12,500 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $90.00, for a total value of $1,125,000.00. Following the sale, the director now directly owns 21,910 shares in the company, valued at $1,971,900. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 100,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $85.17, for a total transaction of $8,517,000.00. The disclosure for this sale can be found here. Insiders sold 178,566 shares of company stock worth $15,473,748 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Bank of Australia raised its holdings in shares of Analog Devices by 525.5% during the second quarter. Commonwealth Bank of Australia now owns 12,904 shares of the semiconductor company’s stock worth $1,002,000 after acquiring an additional 10,841 shares during the period. Aberdeen Asset Management PLC UK raised its holdings in shares of Analog Devices by 3.3% during the second quarter. Aberdeen Asset Management PLC UK now owns 80,598 shares of the semiconductor company’s stock worth $6,271,000 after acquiring an additional 2,597 shares during the period. Riverhead Capital Management LLC raised its holdings in shares of Analog Devices by 11.1% during the second quarter. Riverhead Capital Management LLC now owns 8,866 shares of the semiconductor company’s stock worth $690,000 after acquiring an additional 889 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Analog Devices by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 1,946,197 shares of the semiconductor company’s stock worth $151,401,000 after acquiring an additional 38,608 shares during the period. Finally, Norinchukin Bank The raised its holdings in shares of Analog Devices by 7.7% during the second quarter. Norinchukin Bank The now owns 25,470 shares of the semiconductor company’s stock worth $1,982,000 after acquiring an additional 1,820 shares during the period. Institutional investors own 86.98% of the company’s stock.

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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.

Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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