Analog Devices Receives a Rating Update from a Top Analyst

By Ryan Adsit

In a report released today, Tore Svanberg from Stifel Nicolaus reiterated a Buy rating on Analog Devices (NASDAQ: ADI), with a price target of $100. The company’s shares closed yesterday at $89.38.

According to, Svanberg is a top 100 analyst with an average return of 19.8% and a 76.3% success rate. Svanberg covers the Consumer Goods sector, focusing on stocks such as O2Micro International, Silicon Laboratories, and M/A-Com Technology.

Analog Devices has an analyst consensus of Strong Buy, with a price target consensus of $104.44.

Based on Analog Devices’ latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $1.54 billion and quarterly net profit of $346 million. In comparison, last year the company earned revenue of $1 billion and had a net profit of $296 million.

Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Joseph Hassett, the SVP, Global Operations & Tech of ADI sold 18,400 shares for a total of $1,564,920.

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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. Its products include 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.