Analog Devices (ADI) is Downgraded by BofA/Merrill to Neutral

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

Many Wall Street Analysts have commented on Analog Devices. Goldman Initiated Analog Devices on Jun 2, 2016 to “Sell”, Price Target of the shares are set at $50.Analog Devices was Downgraded by Raymond James to ” Outperform” on Apr 19, 2016.

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 closed down -3.07 points or -5.28% at $55.04 with 84,89,950 shares getting traded on Friday. Post opening the session at $54.91, the shares hit an intraday low of $54.75 and an intraday high of $56.3699 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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