Analog Devices (NASDAQ:ADI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

According to Zacks, “Analog Devices is currently suffering from significant weakness in the consumer end market. Further, we remain concerned about intensifying competition across several markets that might exert pricing pressure on the company. Nevertheless, Analog Devices continues to benefit from its strength across industrial, automotive and communications markets. Further, the company is currently riding on positive contributions from Linear Technology acquisition. Estimates have been stable lately ahead of the company’s Q4 earnings release. Notably, the stock has outperformed the industry it belongs to on a year-to-date basis. However, declining usage of the company’s products in portable consumer applications is a major headwind.”

Other equities analysts have also issued reports about the company. Stifel Nicolaus increased their price target on Analog Devices from $108.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. B. Riley decreased their price objective on Analog Devices from $120.00 to $117.00 and set a “buy” rating on the stock in a research report on Thursday, August 23rd. Morgan Stanley decreased their price objective on Analog Devices from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 3rd. BMO Capital Markets restated a “buy” rating and set a $107.00 price objective on shares of Analog Devices in a research report on Monday, August 20th. Finally, BidaskClub upgraded Analog Devices from a “sell” rating to a “hold” rating in a research report on Saturday, August 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. Analog Devices has an average rating of “Buy” and an average price target of $103.70.

Shares of Analog Devices stock opened at $89.02 on Monday. Analog Devices has a 12 month low of $76.62 and a 12 month high of $103.59. The company has a market cap of $33.26 billion, a P/E ratio of 18.86, a PEG ratio of 1.24 and a beta of 1.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.58 and a quick ratio of 1.16.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 20th. The semiconductor company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Analog Devices had a return on equity of 20.89% and a net margin of 22.94%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the company earned $1.45 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Research analysts predict that Analog Devices will post 5.93 earnings per share for the current year.

Analog Devices announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

In other news, SVP Margaret K. Seif sold 2,700 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $97.19, for a total value of $262,413.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Joseph Hassett sold 12,000 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $100.40, for a total value of $1,204,800.00. Following the completion of the sale, the senior vice president now owns 26,711 shares in the company, valued at $2,681,784.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,750 shares of company stock worth $8,561,658. Company insiders own 0.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB increased its holdings in Analog Devices by 10.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 86,978 shares of the semiconductor company’s stock worth $8,343,000 after purchasing an additional 8,156 shares during the period. Fox Run Management L.L.C. purchased a new position in Analog Devices during the 2nd quarter worth $293,000. Cornerstone Wealth Management LLC purchased a new position in Analog Devices during the 2nd quarter worth $392,000. North Star Investment Management Corp. purchased a new position in Analog Devices during the 2nd quarter worth $240,000. Finally, Whittier Trust Co. increased its holdings in Analog Devices by 34.8% during the 2nd quarter. Whittier Trust Co. now owns 5,859 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 1,512 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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Analyst Recommendations for Analog Devices (NASDAQ:ADI)

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