Analog Devices (ADI) Gets a Buy Rating from Merrill Lynch

In a report released today, Vivek Arya from Merrill Lynch maintained a Buy rating on Analog Devices (ADI), with a price target of $130.00. The company’s shares closed last Thursday at $112.14.

According to, Arya is a 5-star analyst with an average return of 18.8% and a 61.5% success rate. Arya covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Skyworks Solutions.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Analog Devices with a $122.95 average price target, representing an 8.4% upside. In a report issued on May 18, RBC Capital also maintained a Buy rating on the stock with a $122.00 price target.

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Based on Analog Devices’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $1.3 billion and net profit of $204 million. In comparison, last year the company earned revenue of $1.54 billion and had a net profit of $355 million.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADI in relation to earlier this year.

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Analog Devices, Inc. engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices. The company was founded by Raymond P. Stata and Matthew Lorber in 1965 and is headquartered in Norwood, MA.

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