BMO Capital Believes ADI Won’t Stop Here

By Austin Angelo

BMO Capital analyst Ambrish Srivastava reiterated a Buy rating on Analog Devices (NASDAQ: ADI) yesterday and set a price target of $85. The company’s shares opened today at $68.75, close to its 52-week high of $69.38.

According to TipRanks.com, Srivastava is a 4-star analyst with an average return of 11.0% and a 75.0% success rate. Srivastava covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Applied Micro Circ., and Samsung Electronics.

Currently, the analyst consensus on Analog Devices is Strong Buy and the average price target is $78.14, representing a 13.7% upside.

In a report issued on November 14, RBC Capital also maintained a Buy rating on the stock with a $75 price target.

Analog Devices’ market cap is currently $21.05B and has a P/E ratio of 32.45. The company has a book value ratio of 4.2246.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. Last month, John Hodgson, a Director at ADI sold 7,500 shares for a total of $483,075.

Analog Devices, Inc. engages in the design, manufacture, and market of analog, mixed-signal, and digital signal processing integrated circuits used in virtually all types of electronic equipment. It offers data converters; amplifiers and linear products; radio frequency integrated circuits; power management products; sensors based on microelectro mechanical systems technology; and other sensors and processing products, including digital signal processing and other processors. The company was founded by Raymond P. Stata and Matthew Lorber in 1965 and is headquartered in Norwood, MA.