Analog Devices (ADI) Receives a New Rating from a Top Analyst

Oppenheimer analyst Rick Schafer assigned a Buy rating to Analog Devices (ADI) yesterday and set a price target of $140.00. The company’s shares closed last Wednesday at $122.88, close to its 52-week high of $127.39.

According to, Schafer is a top 25 analyst with an average return of 19.3% and a 78.3% success rate. Schafer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Akoustis Technologies, and NXP Semiconductors.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Analog Devices with a $123.11 average price target, which is a -0.9% downside from current levels. In a report issued on May 27, Merrill Lynch also maintained a Buy rating on the stock with a $135.00 price target.

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Based on Analog Devices’ latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $1.32 billion and net profit of $268 million. In comparison, last year the company earned revenue of $1.53 billion and had a net profit of $368 million.

Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADI in relation to earlier this year. Last month, Edward Frank, a Director at ADI sold 8,460 shares for a total of $959,533.

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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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