Piper Jaffray Keeps a Buy Rating on Analog Devices


In a report released today, Harsh Kumar from Piper Jaffray maintained a Buy rating on Analog Devices (NASDAQ: ADI), with a price target of $105. The company’s shares opened today at $95.91, close to its 52-week high of $98.38.

According to TipRanks.com, Kumar is a 4-star analyst with an average return of 13.6% and a 67.6% success rate. Kumar covers the Consumer Goods sector, focusing on stocks such as Microchip, Microsemi, and Broadcom.

Currently, the analyst consensus on Analog Devices is Strong Buy and the average price target is $108.71, representing a 13.3% upside.

In a report issued on May 21, B.Riley FBR also maintained a Buy rating on the stock with a $122 price target.

See today’s analyst top recommended stocks >>

Based on Analog Devices’ latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $378 million. In comparison, last year the company had a net profit of $93.56 million.

Based on the recent corporate insider activity of 97 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Eileen Wynne, the VP & CAO of ADI sold 5,209 shares for a total of $494,126.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Analog Devices, Inc. engages in the design, manufacture, and market of analog, mixed-signal, and digital signal processing integrated circuits used in virtually all types of electronic equipment. Its products include data converters; amplifiers and linear products; radio frequency integrated circuits; power management products; sensors based on microelectro mechanical systems technology; and other sensors and processing products, including digital signal processing and other processors. The company was founded by Raymond P. Stata and Matthew Lorber in 1965 and is headquartered in Norwood, MA.

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