Analog Devices (NASDAQ:ADI) Upgrade of Rating

Stephens Inc has raised Analog Devices (NASDAQ:ADI) stock to Overweight in a note shared with investors on Monday, 24 April. ADI’s old rating was Equal-Weight.

Out of 26 analysts covering Analog Devices, 17 rate it a Buy, 12 indicate a Hold while 1 suggest a Sell. The highest target is $72 and the lowest is $50 according to Thomson/First Call. The 12-month mean target is $60.1, which means downside potential of 22.58% over the current price.

Institutional Ownership

Cantillon Capital Management Llc had the largest stake with ownership of 6.99M shares as of q2 2015 for 6.37% of the stocks portfolio. Central Securities Corp is another bullish fund who is possessing 450,000 shares of Analog Devices or 6.3% of their stocks portfolio. In addition, Southport Management L.L.C. have 5.65% of their stocks portfolio invested in the company for 45,000 shares. The California-based fund Sensato Investors Llc disclosed it had bought so far a stake worth about 4.21% of the fund’s stock portfolio in Analog Devices. The New York-based fund Tirschwell & Loewy Inc is also positive about the stock, possessing 307,700 shares or 3.57% of their stocks portfolio.

Analog Devices (NASDAQ:ADI) Profile

Analog Devices, Inc. (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products. The Company is a supplier of data converter products.

Analog Devices (NASDAQ:ADI) closed at $77.63 yesterday. A total of 58 shares of the company’s stock traded hands. This is down from average of 3.47M shares. Analog Devices has a 52 week low of $52.17 and a 52 week high of $84.24. The company has a market cap of $27.97B and a P/E ratio of 26.48.

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The post Analog Devices (NASDAQ:ADI) was Upped by Analysts at Stephens Inc from a Equal-Weight Rating to Overweight Rating appeared first on Octafinance.