Analog Devices (NASDAQ:ADI) Lowered to Hold at BidaskClub

Analog Devices (NASDAQ:ADI) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday, November 10th.

ADI has been the topic of several other reports. B. Riley restated a “buy” rating and set a $110.00 target price on shares of Analog Devices in a research report on Sunday, August 27th. Drexel Hamilton reissued a “buy” rating and issued a $105.00 price objective on shares of Analog Devices in a research report on Wednesday, August 30th. Jefferies Group reissued a “buy” rating and issued a $100.00 price objective on shares of Analog Devices in a research report on Thursday, October 19th. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Tuesday, October 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $100.00 target price (up from $96.00) on shares of Analog Devices in a research report on Tuesday, August 29th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Analog Devices currently has an average rating of “Buy” and a consensus target price of $96.04.

Analog Devices (ADI) traded down $1.41 on Friday, hitting $85.66. 6,130,300 shares of the company’s stock traded hands, compared to its average volume of 2,972,733. Analog Devices has a twelve month low of $68.42 and a twelve month high of $93.99. The company has a market cap of $32,100.00, a P/E ratio of 19.05, a PEG ratio of 1.66 and a beta of 1.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.13.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.36 by $0.09. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The business’s revenue was up 53.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. analysts forecast that Analog Devices will post 5.17 earnings per share for the current year.

In related news, Director Ray Stata sold 25,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the transaction, the director now owns 234,481 shares of the company’s stock, valued at $19,579,163.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Gregory N. Henderson sold 6,396 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.34, for a total transaction of $539,438.64. Following the transaction, the senior vice president now directly owns 10,327 shares of the company’s stock, valued at approximately $870,979.18. The disclosure for this sale can be found here. Insiders have sold 139,932 shares of company stock valued at $12,022,135 over the last quarter. Insiders own 1.10% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its holdings in Analog Devices by 54.1% in the second quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock valued at $719,786,000 after buying an additional 3,248,336 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Analog Devices by 97.4% in the third quarter. Neuberger Berman Group LLC now owns 4,303,569 shares of the semiconductor company’s stock valued at $370,839,000 after buying an additional 2,123,268 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Analog Devices by 576.1% in the second quarter. Janus Henderson Group PLC now owns 1,785,372 shares of the semiconductor company’s stock valued at $138,903,000 after buying an additional 1,521,316 shares in the last quarter. BlackRock Inc. increased its holdings in Analog Devices by 6.2% in the second quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock valued at $1,904,749,000 after buying an additional 1,437,338 shares in the last quarter. Finally, Prudential PLC increased its holdings in Analog Devices by 23,301.9% in the second quarter. Prudential PLC now owns 1,304,189 shares of the semiconductor company’s stock valued at $101,466,000 after buying an additional 1,298,616 shares in the last quarter. 87.31% of the stock is owned by hedge funds and other institutional investors.

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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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