Analog Devices Receives a New Rating from Top Analyst

By Ryan Adsit

In a report released today, Mark Lipacis from Jefferies reiterated a Buy rating on Analog Devices (NASDAQ: ADI), with a price target of $100. The company’s shares opened today at $81.57, close to its 52-week high of $84.24.

According to TipRanks.com, Lipacis is a top 25 analyst with an average return of 29.1% and a 80.3% success rate. Lipacis covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Activision Blizzard, and M/A-Com Technology.

Currently, the analyst consensus on Analog Devices is Strong Buy and the average price target is $94.88, representing a 16.3% upside.

In a report issued on May 9, Morgan Stanley also reiterated a Buy rating on the stock.

Analog Devices’ market cap is currently $25.12B and has a P/E ratio of 27.73. The company has a book value ratio of 4.7339.

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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.