Analog Devices Inc. (NASDAQ:ADI)‘s stock had its “outperform” rating reissued by RBC Capital Markets in a research note issued on Wednesday. They presently have a $75.00 price target on the stock, up from their prior price target of $63.00. RBC Capital Markets’ target price points to a potential upside of 19.29% from the company’s previous close.
Several other analysts have also issued reports on ADI. B. Riley restated a “buy” rating and issued a $73.00 price objective on shares of Analog Devices in a report on Wednesday. Deutsche Bank AG boosted their price objective on shares of Analog Devices from $55.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday. MKM Partners boosted their price objective on shares of Analog Devices from $56.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday. Morgan Stanley upgraded shares of Analog Devices from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $56.00 to $78.00 in a report on Wednesday. Finally, Zacks Investment Research lowered shares of Analog Devices from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $67.48.
In other news, SVP Rick D. Hess sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $60.03, for a total transaction of $360,180.00. Following the completion of the sale, the senior vice president now owns 36,495 shares in the company, valued at $2,190,794.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Analog Devices (NASDAQ:ADI) traded up 0.863% during midday trading on Wednesday, hitting $63.415. 13,925,084 shares of the stock traded hands. Analog Devices has a 12-month low of $47.24 and a 12-month high of $66.91. The company’s 50 day moving average price is $57.71 and its 200-day moving average price is $55.95. The stock has a market cap of $19.49 billion and a price-to-earnings ratio of 30.784.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 18th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $779 million for the quarter, compared to analyst estimates of $777.57 million. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. On average, equities research analysts expect that Analog Devices will post $2.76 EPS for the current year.
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
