Analog Devices (NASDAQ:ADI) Cut to “Hold” at BidaskClub

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BidaskClub lowered shares of Analog Devices (NASDAQ:ADI) from a buy rating to a hold rating in a research note released on Saturday morning, BidAskClub reports.

Several other research analysts also recently weighed in on ADI. Goldman Sachs Group upgraded shares of Analog Devices from a sell rating to a buy rating and upped their price target for the stock from $101.00 to $114.00 in a research report on Monday, June 10th. Piper Jaffray Companies upped their price target on shares of Analog Devices from $118.00 to $135.00 and gave the stock an overweight rating in a research report on Tuesday, July 9th. Morgan Stanley reduced their price target on shares of Analog Devices from $100.00 to $97.00 and set an equal weight rating for the company in a research report on Thursday, May 23rd. ValuEngine upgraded shares of Analog Devices from a hold rating to a buy rating in a research report on Tuesday, June 18th. Finally, Royal Bank of Canada reduced their price target on shares of Analog Devices from $140.00 to $120.00 and set an outperform rating for the company in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $109.94.

ADI opened at $107.63 on Friday. Analog Devices has a twelve month low of $76.62 and a twelve month high of $124.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.52. The stock’s 50-day moving average is $114.87. The firm has a market cap of $41.66 billion, a P/E ratio of 19.53, a PEG ratio of 1.73 and a beta of 1.41.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.06. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Analog Devices will post 5.24 earnings per share for the current year.

In other news, SVP Steve Pietkiewicz sold 7,219 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $113.03, for a total value of $815,963.57. Following the completion of the sale, the senior vice president now owns 29,870 shares of the company’s stock, valued at approximately $3,376,206.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Yusuf Jamal sold 31,867 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total transaction of $3,129,020.73. Following the completion of the sale, the senior vice president now directly owns 2,124 shares of the company’s stock, valued at approximately $208,555.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,266 shares of company stock valued at $11,006,074. 0.50% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Enlightenment Research LLC grew its stake in shares of Analog Devices by 25.0% in the 2nd quarter. Enlightenment Research LLC now owns 3,000 shares of the semiconductor company’s stock valued at $339,000 after buying an additional 600 shares during the period. PFG Advisors grew its stake in shares of Analog Devices by 2.6% in the 2nd quarter. PFG Advisors now owns 8,115 shares of the semiconductor company’s stock valued at $988,000 after buying an additional 205 shares during the period. Bbva USA Bancshares Inc. grew its stake in shares of Analog Devices by 4.4% in the 2nd quarter. Bbva USA Bancshares Inc. now owns 13,180 shares of the semiconductor company’s stock valued at $1,488,000 after buying an additional 551 shares during the period. National Asset Management Inc. grew its stake in shares of Analog Devices by 41.7% in the 2nd quarter. National Asset Management Inc. now owns 5,278 shares of the semiconductor company’s stock valued at $597,000 after buying an additional 1,554 shares during the period. Finally, FTB Advisors Inc. grew its stake in shares of Analog Devices by 5.4% in the 2nd quarter. FTB Advisors Inc. now owns 48,382 shares of the semiconductor company’s stock valued at $5,461,000 after buying an additional 2,483 shares during the period. 89.31% of the stock is owned by institutional investors and hedge funds.

About Analog Devices

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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