Zacks Investment Research Upgrades Analog Devices, Inc. (ADI) to Buy

Analog Devices, Inc. (NASDAQ:ADI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, October 10th. The firm presently has a $98.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.11% from the company’s previous close.

According to Zacks, “Analog Devices is a leading supplier of analog and DSP integrated circuits. The company delivered better-than-expected fiscal third-quarter 2017 results beating the Zacks Consensus Estimate on both counts. Results were driven by strength across all the markets and positive contributions from Linear Technology acquisition. Analog Devices' leading market position, focus on communications, automotive and industrial markets, margin expansion initiatives and strong balance sheet are positives. However, we remain concerned about competitive pressures across several markets. Year to date, the stock has underperformed the industry it belongs to.”

Other research analysts have also recently issued reports about the company. B. Riley reiterated a “buy” rating and set a $110.00 price target on shares of Analog Devices in a research report on Sunday, August 27th. BidaskClub cut Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Royal Bank Of Canada lifted their price target on Analog Devices from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. ValuEngine cut Analog Devices from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. Finally, Raymond James Financial, Inc. assumed coverage on Analog Devices in a research report on Friday, June 16th. They issued a “market perform” rating for the company. Eleven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $92.85.

Analog Devices (ADI) traded down 0.522% during midday trading on Tuesday, hitting $88.535. 976,290 shares of the stock were exchanged. Analog Devices has a 1-year low of $61.67 and a 1-year high of $90.49. The company’s 50 day moving average is $85.22 and its 200-day moving average is $80.80. The stock has a market cap of $32.55 billion, a PE ratio of 44.069 and a beta of 1.30.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The company’s revenue for the quarter was up 64.9% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. On average, analysts expect that Analog Devices will post $4.62 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The legal version of this news story can be viewed at https://ledgergazette.com/2017/10/19/analog-devices-inc-adi-upgraded-at-zacks-investment-research.html.

In other news, SVP Gregory N. Henderson sold 6,396 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.34, for a total transaction of $539,438.64. Following the completion of the transaction, the senior vice president now directly owns 10,327 shares of the company’s stock, valued at approximately $870,979.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Champy sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $85.00, for a total value of $850,000.00. Following the transaction, the director now directly owns 20,185 shares of the company’s stock, valued at $1,715,725. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,494 shares of company stock worth $10,436,881. 1.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Crow Point Partners LLC acquired a new stake in shares of Analog Devices in the 3rd quarter valued at about $140,000. Beacon Financial Group acquired a new stake in shares of Analog Devices in the 3rd quarter valued at about $831,000. Eqis Capital Management Inc. acquired a new stake in shares of Analog Devices in the 3rd quarter valued at about $422,000. Intl Fcstone Inc. acquired a new stake in shares of Analog Devices in the 2nd quarter valued at about $205,000. Finally, Achmea Investment Management B.V. boosted its position in shares of Analog Devices by 17.5% in the 2nd quarter. Achmea Investment Management B.V. now owns 33,887 shares of the semiconductor company’s stock valued at $2,634,000 after purchasing an additional 5,058 shares during the period. 86.59% of the stock is owned by hedge funds and other institutional investors.

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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According to Zacks, “Analog Devices is a leading supplier of analog and DSP integrated circuits. The company delivered better-than-expected fiscal third-quarter 2017 results beating the Zacks Consensus Estimate on both counts. Results were driven by strength across all the markets and positive contributions from Linear Technology acquisition. Analog Devices' leading market position, focus on communications, automotive and industrial markets, margin expansion initiatives and strong balance sheet are positives. However, we remain concerned about competitive pressures across several markets. Year to date, the stock has underperformed the industry it belongs to.”

Other research analysts have also recently issued reports about the company. B. Riley reiterated a “buy” rating and set a $110.00 price target on shares of Analog Devices in a research report on Sunday, August 27th. BidaskClub cut Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Royal Bank Of Canada lifted their price target on Analog Devices from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. ValuEngine cut Analog Devices from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. Finally, Raymond James Financial, Inc. assumed coverage on Analog Devices in a research report on Friday, June 16th. They issued a “market perform” rating for the company. Eleven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $92.85.

Analog Devices (ADI) traded down 0.522% during midday trading on Tuesday, hitting $88.535. 976,290 shares of the stock were exchanged. Analog Devices has a 1-year low of $61.67 and a 1-year high of $90.49. The company’s 50 day moving average is $85.22 and its 200-day moving average is $80.80. The stock has a market cap of $32.55 billion, a PE ratio of 44.069 and a beta of 1.30.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The company’s revenue for the quarter was up 64.9% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. On average, analysts expect that Analog Devices will post $4.62 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The legal version of this news story can be viewed at https://ledgergazette.com/2017/10/19/analog-devices-inc-adi-upgraded-at-zacks-investment-research.html.

In other news, SVP Gregory N. Henderson sold 6,396 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.34, for a total transaction of $539,438.64. Following the completion of the transaction, the senior vice president now directly owns 10,327 shares of the company’s stock, valued at approximately $870,979.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Champy sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $85.00, for a total value of $850,000.00. Following the transaction, the director now directly owns 20,185 shares of the company’s stock, valued at $1,715,725. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,494 shares of company stock worth $10,436,881. 1.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Crow Point Partners LLC acquired a new stake in shares of Analog Devices in the 3rd quarter valued at about $140,000. Beacon Financial Group acquired a new stake in shares of Analog Devices in the 3rd quarter valued at about $831,000. Eqis Capital Management Inc. acquired a new stake in shares of Analog Devices in the 3rd quarter valued at about $422,000. Intl Fcstone Inc. acquired a new stake in shares of Analog Devices in the 2nd quarter valued at about $205,000. Finally, Achmea Investment Management B.V. boosted its position in shares of Analog Devices by 17.5% in the 2nd quarter. Achmea Investment Management B.V. now owns 33,887 shares of the semiconductor company’s stock valued at $2,634,000 after purchasing an additional 5,058 shares during the period. 86.59% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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