Oppenheimer Reaffirms Their Buy Rating on Analog Devices (ADI)

By Jason Carr

Oppenheimer analyst Rick Schafer maintained a Buy rating on Analog Devices (ADIResearch Report) today and set a price target of $140.00. The company’s shares closed last Monday at $93.05.

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 16.1% and a 70.4% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as Akoustis Technologies, Skyworks Solutions, and Texas Instruments.

Currently, the analyst consensus on Analog Devices is a Strong Buy with an average price target of $127.58, representing a 35.0% upside. In a report issued on March 16, SunTrust Robinson also maintained a Buy rating on the stock with a $124.00 price target.

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Based on Analog Devices’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $1.3 billion and net profit of $204 million. In comparison, last year the company earned revenue of $1.54 billion and had a net profit of $355 million.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADI in relation to earlier this year. Most recently, in January 2020, Kenton Sicchitano, a Director at ADI sold 11,860 shares for a total of $1,434,586.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Analog Devices, Inc. engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices. The company was founded by Raymond P. Stata and Matthew Lorber in 1965 and is headquartered in Norwood, MA.