Credit Suisse Believes Analog Devices (NASDAQ: ADI) Won’t Stop Here

By Austin Angelo

Credit Suisse analyst John Pitzer maintained a Buy rating on Analog Devices (NASDAQ: ADI) yesterday and set a price target of $100. The company’s shares closed yesterday at $82.81, close to its 52-week high of $84.24.

According to TipRanks.com, Pitzer is a top 100 analyst with an average return of 20.0% and a 72.3% success rate. Pitzer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Rudolph Technologies, and NXP Semiconductors.

Currently, the analyst consensus on Analog Devices is Strong Buy and the average price target is $94.88, representing a 14.6% upside.

In a report issued on May 22, Jefferies also reiterated a Buy rating on the stock with a $100 price target.

Analog Devices’ market cap is currently $25.61B and has a P/E ratio of 28.26. The company has a book value ratio of 4.8254.

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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.