Analog Devices (NASDAQ:ADI) Receives a Downgrade
Oppenheimer has given Analog Devices (NASDAQ:ADI) shares a new Perform rating in recent note sent to investors and clients on Tuesday morning. This was a decrease from the earlier Outperform rating.
From a total of 27 analysts covering Analog Devices (NASDAQ:ADI) stock, 16 rate it a ”Buy”, 1 a “Sell”, and 12 a ”Hold”. This means that 55% 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 $66.8 with a 15.52% above today’s ($56.82) stock price. Analog Devices was the topic of 24 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Barclays Capital downgraded shares on December 4 to “Equal-Weight” rating. Sterne Agee CRT initiated shares with “Buy” rating and $67 target share price in a report from a September 9. Credit Suisse 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, BMO Capital Markets upgraded the stock to “Outperform” rating in a report issued on an October 14.
The stock closed the day at $56.82 during the previous session. It is down 8.47% since May 12, 2015 and is downtrending. It has underperformed by 4.80% the S&P500.
The overall sentiment of institutions has increased to 1.22 in Q2 2015. Its up 0.11, from 1.11 in 2015Q2. The ratio is positive, as 54 institutions have sold all the shares of Analog Devices, Inc. that they owned while 166 funds have taken shares off the table. 69 funds have purchased shares for the first time while 200 added to their positions. These institutions now hold 285.11 million shares or 6.07% more than the 268.78 million shares they owned in 2015Q2.
The Fund Cantillon Capital Management Llc currently is holding shares equating to 9.02% of its total portfolio in Analog Devices, Inc. representing a total of 7.50 million shares. Another fund,Whale Rock Capital Management Llc, is holding a total of 1.18 million shares equating to 6.6% of their holdings. Additionally, Central Securities Corp has a 400,000 share stake in Analog Devices, Inc. which represents 5.92% of their total portfolio. The Fund, Tirschwell & Loewy Inc, based out of New York, has also built up a stake in the stock, which represents a total of 3.65% of their total portfolio. Finally American Research & Management Co., a fund which is based in the state of Massachusetts reported a total holdings of 147,314 shares.
Insider activity is a very important aspect to track on any stock. Going back to February 25, 2015, shareholders of Analog Devices, Inc. have witnessed 0 insider purchases, and a total of 4 selling transactions equating to a net activity of approximately $4.81 million . Roche Vincent sold 30,000 shares worth approximately $1.89M. Hess Rick D sold 4,000 shares worth approximately $240,120. Matson William R sold 32,500 shares worth approximately $2.03 million. Seif Margaret K sold 3,500 shares worth approximately $233,625. The company insider Hodgson John C sold 7,500 shares worth $506,895.
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 $17.73 billion. The Firm is focused on solving the engineering challenges associated with signal processing in electronic equipment. It has 25.85 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.”