Analog Devices Inc (NASDAQ:ADI) Receives a Downgrade
Analog Devices Inc (NASDAQ:ADI) was just lowered by Barclays Capital from the old “Overweight” rating to a “Equal-weight” in an analyst research report announced on Friday morning. Barclays Capital now has a $60.00 target PPS on the shares. Barclays Capital’s target PPS provides a potential upside of 1.61% from the stock’s previous close.
From a total of 27 analysts covering Analog Devices (NASDAQ:ADI) stock, 17 rate it a ”Buy”, 1 a “Sell”, and 12 a ”Hold”. This means that 57% of the ratings are positive. The highest target price is $75 while the lowest target price is $52. The mean of all analyst targets is $67.02 with a 11.91% above today’s ($59.05) stock price. Analog Devices was the topic of 23 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. M Partners maintained shares on November 25 with “Neutral” rating. Sterne Agee CRT initiated shares with “Buy” rating and $67 target share price in a report from a September 9. RBC Capital Markets maintained ADI stock in a recent report from November 23 with “Outperform” rating. BMO Capital Markets maintained the rating on August 19. BMO Capital Markets has a “Market Perform” rating and a $63 price target on shares. Finally, Citigroup upgraded the stock to “Buy” rating in a report issued on a September 30.
The stock closed the day at $59.05 during the previous session. It is down 6.67% since May 1, 2015 and is downtrending. It has underperformed by 3.89% the S&P500.
Analog Devices, Inc. is engaged in the design, manufacture and marketing of high-performance analog, mixed-signal and digital signal processing integrated circuits . The company has a market cap of $18.43 billion. The Firm is focused on solving the engineering challenges associated with signal processing in electronic equipment. It has 26.86 P/E ratio. The Company’s produces a wide range of products including 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 and other processors that are designed to meet the needs of a broad base of customers.
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.” Get a free copy of the Zacks research report on Analog Devices, Inc. (ADI).