Today’s Rating: Is Analog Devices Inc (NASDAQ:ADI) a Buy? Bank of America (Merrill Lynch) Upgrades It

November 23, 2016 - By Winifred Garcia

Today's Rating:  Is Analog Devices Inc (NASDAQ:ADI) a Buy? Bank of America (Merrill Lynch) Upgrades It

Analog Devices Inc (NASDAQ:ADI) Upgrade

Analog Devices Inc (NASDAQ:ADI)‘s rating was upgraded by research analysts at Bank of America (Merrill Lynch) from a Neutral rating to a Buy rating in a a report revealed on 23 November.

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 -16.30% below today’s ($74.07) stock price. Analog Devices has been the topic of 62 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Wednesday, July 22 by Drexel Hamilton. Morgan Stanley upgraded the shares of ADI in a report on Wednesday, July 27 to “Overweight” rating. M Partners maintained the stock with “Neutral” rating in Wednesday, November 25 report. The rating was downgraded by Oppenheimer on Tuesday, December 15 to “Perform”. Nomura upgraded the shares of ADI in a report on Friday, January 15 to “Neutral” rating. The rating was upgraded by Citigroup on Wednesday, September 30 to “Buy”. Nomura upgraded the shares of ADI in a report on Monday, January 18 to “Neutral” rating. The firm has “Neutral” rating given on Monday, January 18 by M Partners. Barclays Capital downgraded the shares of ADI in a report on Friday, December 4 to “Equal-Weight” rating. On Thursday, August 20 the stock rating was downgraded by Nomura to “Reduce”.

About 4.25M shares traded hands or 49.12% 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 2016 Q2. Its up 0.23, from 1 in 2016Q1. The ratio improved, 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.

Livforsakringsbolaget Skandia Omsesidigt reported 33,965 shares or 0.09% of all its holdings. Skba Capital Mngmt Lc, a California-based fund reported 3,600 shares. Shamrock Asset Mngmt Limited Liability Com accumulated 0.36% or 10,871 shares. Zevin Asset Management Ltd Com has 2.02% invested in the company for 128,528 shares. The New York-based Cohen And Steers has invested 0% in Analog Devices, Inc. (NASDAQ:ADI). Parametric Assocs Limited Liability Company holds 0.06% or 624,629 shares in its portfolio. Great West Life Assurance Com Can last reported 0.04% of its portfolio in the stock. Eads Heald Investment Counsel, a Georgia-based fund reported 5,521 shares. Smith Salley And holds 0.31% or 23,721 shares in its portfolio. Retirement Of Alabama owns 156,690 shares or 0.05% of their US portfolio. Meeder Asset, a Ohio-based fund reported 3,487 shares. Hsbc Pcl, a United Kingdom-based fund reported 153,107 shares. Rech And Management Communications has 3.11% invested in the company for 142,704 shares. Qcm Cayman has 0.1% invested in the company for 4,232 shares. Allianz Asset Mngmt Ag holds 101,070 shares or 0% of its portfolio.

Insider Transactions: Since July 15, 2016, the stock had 0 insider purchases, and 11 selling transactions for $10.24 million net activity. Real Peter also sold $416,904 worth of Analog Devices, Inc. (NASDAQ:ADI) on Thursday, September 29. 25,000 Analog Devices, Inc. (NASDAQ:ADI) shares with value of $1.58 million were sold by STATA RAY. Another trade for 7,500 shares valued at $483,143 was made by HODGSON JOHN C on Tuesday, October 4. $964,935 worth of shares were sold by Zinsner David on Thursday, August 18. Cotter Martin also sold $629,120 worth of Analog Devices, Inc. (NASDAQ:ADI) on Tuesday, September 27. $375,780 worth of Analog Devices, Inc. (NASDAQ:ADI) was sold by Hess Rick D on Thursday, September 1. 2,504 shares were sold by Wynne Eileen, worth $160,890 on Thursday, August 18.

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 $23.80 billion. The Company’s operating divisions include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia. It has a 35.02 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 important 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 published article titled: “Top Analyst Upgrades and Downgrades: Analog Devices, First Solar, Hewlett …”, Forbes.com published: “ADI Crosses Above Average Analyst Target” on November 23, 2016. More interesting news about Analog Devices, Inc. (NASDAQ:ADI) was released by: Nasdaq.com and their article: “Earnings Reaction History: Analog Devices, Inc., 44.4% Follow-Through …” with publication date: November 22, 2016.

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