Analog Devices (ADI) is Downgraded by Citigroup to Neutral

Analog Devices (ADI) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Jul 27, 2016.

Many Wall Street Analysts have commented on Analog Devices. Analog Devices was Upgraded by Goldman to ” Neutral” on Jul 27, 2016. Analog Devices was Upgraded by Morgan Stanley to ” Overweight” on Jul 27, 2016. Shares were Reiterated by RBC Capital Mkts on Jul 1, 2016 to “Outperform” and Lowered the Price Target to $ 63 from a previous price target of $65 .

On the company’s financial health, Analog Devices reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.62. The company had revenue of $778.80 million for the quarter, compared to analysts expectations of $777.65 million. The company’s revenue was down -5.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.73 EPS.

Analog Devices opened for trading at $63.46 and hit $64.39 on the upside on Thursday, eventually ending the session at $64.22, with a gain of 1.41% or 0.89 points. The heightened volatility saw the trading volume jump to 47,24,066 shares. Company has a market cap of $19,738 M.

In a different news, on Jul 15, 2016, Rick D Hess (SVP, Comm & Automotive Group) sold 6,000 shares at $60.03 per share price. According to the SEC, on Apr 8, 2016, Kenton J Sicchitano (director) sold 15,000 shares at $58.28 per share price. On Apr 5, 2016, Margaret K Seif (SVP, CLO & Secretary) sold 2,000 shares at $59.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Analog Devices Inc. is engaged in the design manufacture and marketing of high-performance analog mixed-signal and digital signal processing integrated circuits (ICs). The Company is focused on solving the engineering challenges associated with signal processing in electronic equipment. 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. The Company focuses on strategic markets where its signal processing technology is often a critical differentiator in its customer’s products in the industrial automotive consumer and communications markets.

Analog Devices

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