Analog Devices (ADI) Stock Rating Lowered by Zacks Investment Research

Analog Devices (NASDAQ:ADI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. They currently have a $102.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 4.02% from the company’s previous close.

According to Zacks, “Analog Devices reported strong fiscal second quarter driven by strong momentum in the communications market, especially wireline. Also, the company’s strong performance in the automotive market contributed well. Further, the company is currently riding on positive contributions from Linear Technology acquisition. We believe rising 5G deployments and upgradation in 4G technology should continue to aid its position in the communications market. Notably, the stock has outperformed the industry it belongs to in the past one year. However, weakness in the consumer end market remains a headwind. Moreover, declining usage of the company’s products in portable consumer applications and ongoing U.S.-China trade war are major concerns. Also, rising competitive pressure from Maxim and Texas Instruments poses serious threat to its market position.”

ADI has been the subject of a number of other reports. BidaskClub lowered Analog Devices from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. ValuEngine lowered Analog Devices from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Morgan Stanley decreased their price target on Analog Devices from $100.00 to $97.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of Analog Devices in a research note on Tuesday, April 30th. Finally, SunTrust Banks decreased their price target on Analog Devices to $122.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $104.71.

Shares of ADI stock opened at $98.06 on Wednesday. Analog Devices has a 12-month low of $76.62 and a 12-month high of $118.54. The company has a market capitalization of $35.91 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 1.49 and a beta of 1.27. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.08.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.06. Analog Devices had a return on equity of 19.17% and a net margin of 25.18%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $1.45 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts forecast that Analog Devices will post 5.24 EPS for the current fiscal year.

In other news, SVP Martin Cotter sold 680 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $109.62, for a total value of $74,541.60. Following the completion of the sale, the senior vice president now owns 173 shares in the company, valued at $18,964.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Yusuf Jamal sold 31,867 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total value of $3,129,020.73. Following the completion of the sale, the senior vice president now owns 2,124 shares of the company’s stock, valued at approximately $208,555.56. The disclosure for this sale can be found here. Insiders have sold a total of 84,070 shares of company stock valued at $8,844,521 in the last quarter. Insiders own 0.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADI. Vanguard Group Inc raised its holdings in shares of Analog Devices by 1.6% during the third quarter. Vanguard Group Inc now owns 31,687,292 shares of the semiconductor company’s stock worth $2,929,807,000 after acquiring an additional 496,719 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Analog Devices by 6.4% during the fourth quarter. IFP Advisors Inc now owns 5,111 shares of the semiconductor company’s stock worth $437,000 after acquiring an additional 309 shares in the last quarter. Strs Ohio raised its holdings in shares of Analog Devices by 3.6% during the fourth quarter. Strs Ohio now owns 9,196 shares of the semiconductor company’s stock worth $789,000 after acquiring an additional 319 shares in the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of Analog Devices during the fourth quarter worth $367,000. Finally, CWM LLC increased its position in Analog Devices by 1,469.0% during the fourth quarter. CWM LLC now owns 1,114 shares of the semiconductor company’s stock worth $96,000 after buying an additional 1,043 shares during the last quarter. Institutional investors own 90.04% of the company’s stock.

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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