UBS AG Cuts Analog Devices to Neutral (ADI)

By admin | 6 years ago

Analog Devices (NYSE: ADI) was downgraded by UBS AG (NYSE: UBS) from a “buy” rating to a “neutral” rating in a research note issued on Wednesday. They currently have a $40.00 price target on the stock, down from their previous price target of $45.00.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Analog Devices in a research note to investors on Monday, March 19th. They now have a $42.00 price target on the stock. Separately, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Analog Devices from $36.00 to $40.00 in a research note to investors on Thursday, February 23rd. They now have an “equal weight” rating on the stock. Finally, analysts at RBC Capital (NYSE: RY) raised their price target on shares of Analog Devices from $43.00 to $45.00 in a research note to investors on Thursday, February 23rd. They now have an “outperform” rating on the stock.

Shares of Analog Devices traded down 0.35% during mid-day trading on Wednesday, hitting $36.96. Analog Devices has a one year low of $29.23 and a one year high of $43.28. The company has a market cap of $11.008 billion and a P/E ratio of 14.54.

Analog Devices last issued its quarterly earnings data on Wednesday, February 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.02. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, analysts predict that Analog Devices will post $0.58 earnings per share next quarter.

Analog Devices, Inc. (Analog Devices) designs, manufactures and markets analog, mixed-signal and digital signal processing integrated circuits (ICs) used in all types of electronic equipment.

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