BidaskClub Upgrades Analog Devices, Inc. (ADI) to Buy

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

ADI has been the subject of a number of other reports. Drexel Hamilton restated a “buy” rating and issued a $105.00 price objective on shares of Analog Devices in a research note on Wednesday, August 30th. Jefferies Group LLC restated a “buy” rating on shares of Analog Devices in a research note on Monday, July 10th. Citigroup Inc. restated a “neutral” rating and issued a $88.00 price objective (down from $91.00) on shares of Analog Devices in a research note on Friday, September 1st. BMO Capital Markets restated an “outperform” rating and issued a $100.00 price objective (up from $96.00) on shares of Analog Devices in a research note on Tuesday, August 29th. Finally, Morgan Stanley restated an “overweight” rating and issued a $96.00 price objective on shares of Analog Devices in a research note on Thursday, August 31st. Eleven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Analog Devices has an average rating of “Buy” and a consensus price target of $92.12.

Shares of Analog Devices (NASDAQ:ADI) opened at 87.87 on Friday. The company’s 50-day moving average is $82.99 and its 200-day moving average is $80.42. Analog Devices has a 12-month low of $59.54 and a 12-month high of $90.49. The firm has a market capitalization of $32.31 billion, a price-to-earnings ratio of 43.74 and a beta of 1.30.

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

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In other news, Director Kenton J. Sicchitano sold 15,000 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $88.15, for a total value of $1,322,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $80.35, for a total transaction of $241,050.00. Following the completion of the sale, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,639,461.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,494 shares of company stock worth $10,677,931. 1.10% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Analog Devices by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 29,053,102 shares of the semiconductor company’s stock worth $2,260,331,000 after purchasing an additional 847,762 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Analog Devices by 6.2% in the 2nd quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock worth $1,904,749,000 after purchasing an additional 1,437,338 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Analog Devices by 14.4% in the 1st quarter. Wellington Management Group LLP now owns 18,479,225 shares of the semiconductor company’s stock worth $1,514,372,000 after purchasing an additional 2,319,193 shares during the last quarter. State Street Corp grew its holdings in shares of Analog Devices by 20.0% in the 1st quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock worth $1,225,852,000 after purchasing an additional 2,493,568 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Analog Devices by 54.1% in the 2nd quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock worth $719,786,000 after purchasing an additional 3,248,336 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

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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