Analog Devices (ADI) is Downgraded by Raymond James to Outperform

Analog Devices (ADI) was Downgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Strong Buy ” on the company shares. Raymond James advised their investors in a research report released on Apr 19, 2016.

Many Wall Street Analysts have commented on Analog Devices. Drexel Hamilton Initiated Analog Devices on Mar 2, 2016 to “Buy”, Price Target of the shares are set at $62.

On the company’s financial health, Analog Devices reported $0.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 17, 2016. Analyst had a consensus of $0.53. The company had revenue of $769.40 million for the quarter, compared to analysts expectations of $755.02 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.63 EPS.

Analog Devices opened for trading at $58.68 and hit $58.87 on the upside on Monday, eventually ending the session at $58.7, with a gain of 0.07% or 0.04 points. The heightened volatility saw the trading volume jump to 16,66,719 shares. Company has a market cap of $18,198 M.

In a different news, on Apr 8, 2016, Kenton J Sicchitano (director) sold 15,000 shares at $58.28 per share price. According to the SEC, on Apr 5, 2016, Margaret K Seif (SVP, CLO & Secretary) sold 2,000 shares at $59.00 per share price. On Jan 7, 2016, David Zinsner (SVP, Finance & CFO) sold 7,000 shares at $51.98 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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