Positive Report for Analog Devices from Merrill Lynch

By Austin Angelo

Analog Devices (NASDAQ: ADI) received a Buy rating and an $85 price target from Merrill Lynch analyst Vivek Arya today. The company’s shares closed yesterday at $72.89, close to its 52-week high of $74.87.

According to TipRanks.com, Arya is a 5-star analyst with an average return of 15.2% and a 60.0% success rate. Arya covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Integrated Device Tech, and M/A-Com Technology.

Currently, the analyst consensus on Analog Devices is Strong Buy and the average price target is $79.80, representing a 9.5% upside.

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

Based on Analog Devices’ latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $1 billion and quarterly net profit of $296 million. In comparison, last year the company earned revenue of $979 million and had a net profit of $96.31 million.

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.