Rating to Follow: Bank of America Gives Analog Devices (NASDAQ:ADI) Higher Rating. What Is Next?

November 23, 2016 - By Nellie Frank

Rating to Follow:  Bank of America Gives Analog Devices (NASDAQ:ADI) Higher Rating. What Is Next?

Analog Devices (NASDAQ:ADI) Upgrade

Bank of America raised the shares of Analog Devices (NASDAQ:ADI) from a Neutral rating to Buy rating in a a report revealed to clients and investors on Wednesday morning. The broker currently has $85.00 TP on the stock.

Analog Devices, Inc. (NASDAQ:ADI) Ratings Coverage

Out of 24 analysts covering Analog Devices (NASDAQ:ADI), 13 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 54% are positive. $80 is the highest target while $50 is the lowest. The $62 average target is -15.92% below today’s ($73.74) stock price. Analog Devices has been the topic of 62 analyst reports since July 22, 2015 according to StockzIntelligence Inc. BMO Capital Markets maintained Analog Devices, Inc. (NASDAQ:ADI) rating on Wednesday, August 19. BMO Capital Markets has “Market Perform” rating and $63 price target. The company was downgraded on Wednesday, July 22 by Drexel Hamilton. M Partners maintained Analog Devices, Inc. (NASDAQ:ADI) on Monday, January 18 with “Neutral” rating. The firm has “Outperform” rating given on Monday, November 23 by Credit Suisse. The rating was upgraded by SunTrust to “Buy” on Wednesday, August 19. The stock of Analog Devices, Inc. (NASDAQ:ADI) earned “Buy” rating by Evercore on Monday, September 14. The stock has “Neutral” rating given by Nomura on Friday, January 15. The stock of Analog Devices, Inc. (NASDAQ:ADI) has “Outperform” rating given on Monday, January 11 by Wells Fargo. The stock of Analog Devices, Inc. (NASDAQ:ADI) earned “Buy” rating by Stifel Nicolaus on Monday, January 18. The stock has “Neutral” rating given by Maxim Group on Wednesday, August 19.

About 3.64 million shares traded hands or 27.72% up from the average. Analog Devices, Inc. (NASDAQ:ADI) has risen 23.94% since April 21, 2016 and is uptrending. It has outperformed by 18.61% the S&P500.

Insitutional Activity: The institutional sentiment increased to 1.23 in Q2 2016. Its up 0.23, from 1 in 2016Q1. The ratio is positive, as 44 funds sold all Analog Devices, Inc. shares owned while 171 reduced positions. 41 funds bought stakes while 174 increased positions. They now own 259.50 million shares or 3.30% less from 268.36 million shares in 2016Q1.

First Financial In accumulated 0.02% or 495 shares. Moreover, National Bank & Trust Of Nova Scotia has 0% invested in Analog Devices, Inc. (NASDAQ:ADI) for 6,178 shares. Exxonmobil Investment Mngmt Tx last reported 79,558 shares in the company. Principal Fincl Gp, a Iowa-based fund reported 447,112 shares. Supplemental Annuity Collective Tru Of Nj last reported 10,000 shares in the company. Loring Wolcott Coolidge Fiduciary Advsrs Llp Ma last reported 11,894 shares in the company. Rainier Investment Mngmt Ltd Company has invested 0.18% of its portfolio in Analog Devices, Inc. (NASDAQ:ADI). Blackrock Advsr Limited Com owns 305,358 shares or 0.02% of their US portfolio. The North Carolina-based Smith Salley Associate has invested 0.31% in Analog Devices, Inc. (NASDAQ:ADI). Amica Pension Fund Board Of Trustees owns 15,469 shares or 0.11% of their US portfolio. Zweig Advisers Ltd Liability Com has 1.86% invested in the company for 171,000 shares. Vantage Investment Advisors Ltd Liability last reported 475 shares in the company. Twin Tree Mngmt Limited Partnership has invested 0.01% of its portfolio in Analog Devices, Inc. (NASDAQ:ADI). Vanguard Grp Inc last reported 21.66 million shares in the company. Fortaleza Asset Management last reported 75 shares in the company.

Insider Transactions: Since July 15, 2016, the stock had 0 insider purchases, and 11 selling transactions for $10.24 million net activity. $416,904 worth of Analog Devices, Inc. (NASDAQ:ADI) shares were sold by Real Peter. Shares for $629,120 were sold by Cotter Martin. STATA RAY also sold $3.20M worth of Analog Devices, Inc. (NASDAQ:ADI) shares. $463,065 worth of shares were sold by SEIF MARGARET K on Friday, August 19. The insider Hess Rick D sold 6,000 shares worth $375,780. 15,000 Analog Devices, Inc. (NASDAQ:ADI) shares with value of $964,935 were sold by Zinsner David. The insider HODGSON JOHN C sold 7,500 shares worth $483,143.

Analog Devices, Inc. is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. The company has a market cap of $23.70 billion. The Company’s operating divisions include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia. It has a 34.86 P/E ratio. The Company’s signal processing products help in converting, conditioning and processing real-world phenomena, such as temperature, pressure, sound, light, speed and motion into electrical signals.

According to Zacks Investment Research, “Analog Devices, Inc. is one of the world leaders in the design, manufacture and marketing of high-performance analog, mixed-signal and digital signal processing integrated circuits used in signal processing applications. Applications for its products include communications, cellular telephones, computers and computer peripherals, consumer electronics, automotive electronics, factory automation, process control and military and space systems.”

ADI Company Profile

Analog Devices, Inc., incorporated on January 18, 1965, 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 divisions include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia. The Company’s signal processing products help in converting, conditioning and processing real-world phenomena, such as temperature, pressure, sound, light, speed and motion into electrical signals, which are to be used in a range of electronic devices. The Firm combines data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro-electro mechanical systems (MEMS) technology and other sensors, and processing products, including DSP, micro controllers and other processors, into technology platforms. The Company’s products are embedded inside various types of electronic equipment, including industrial process control systems, medical imaging equipment, factory automation systems, patient monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles and portable electronic devices.

More notable recent Analog Devices, Inc. (NASDAQ:ADI) news were published by: Schaeffersresearch.com which released: “Analyst Upgrades: Analog Devices, Inc., Veeva Systems Inc, and HP Inc” on November 23, 2016, also 247Wallst.com with their article: “Top Analyst Upgrades and Downgrades: Analog Devices, First Solar, Hewlett …” published on November 23, 2016, Forbes.com published: “ADI Crosses Above Average Analyst Target” on November 23, 2016. More interesting news about Analog Devices, Inc. (NASDAQ:ADI) were released by: Nasdaq.com and their article: “Earnings Reaction History: Analog Devices, Inc., 44.4% Follow-Through …” published on November 22, 2016 as well as Bna.com‘s news article titled: “Analog Devices Entitled to $880M Dividend Received Deduction” with publication date: November 23, 2016.

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