Analog Devices, Inc. (NYSE:ADI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, AnalystRatings.NET reports.

According to Zacks, “Analog Devices is a leading supplier of analog and DSP integrated circuits. Its third quarter earnings were above the Zacks Consensus Estimate.  Though we remain concerned about competitive pressures across several markets, ADI is solidly positioned in secular growth markets and its products continue to see very strong deployment in the emerging automotive market. Given this backdrop, the order momentum in the last quarter remained encouraging.”

Other hedge funds have bought and sold shares of the company. ING Groep acquired a new stake in Analog Devices during the third quarter worth $859,000. Park National boosted its stake in Analog Devices by 8.6% in the fourth quarter. Park National now owns 5,808 shares of the company’s stock worth $321,000 after buying an additional 458 shares during the period. Janus Capital Management boosted its stake in Analog Devices by 813.0% in the third quarter. Janus Capital Management now owns 617,289 shares of the company’s stock worth $34,821,000 after buying an additional 549,676 shares during the period. West Oak Capital boosted its stake in Analog Devices by 2.7% in the fourth quarter. West Oak Capital now owns 21,490 shares of the company’s stock worth $1,188,827 after buying an additional 575 shares during the period. Finally, Daiwa SB Investments boosted its stake in Analog Devices by 564.6% in the fourth quarter. Daiwa SB Investments now owns 157,854 shares of the company’s stock worth $8,732,000 after buying an additional 134,104 shares during the period.

In other Analog Devices news, SVP William R. Matson sold 16,000 shares of the firm’s stock in a transaction on Friday, November 27th. The stock was sold at an average price of $60.50, for a total value of $968,000.00. Following the sale, the senior vice president now directly owns 22,542 shares in the company, valued at $1,363,791. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rick D. Hess sold 4,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $60.06, for a total value of $240,240.00. Following the completion of the sale, the senior vice president now owns 21,283 shares in the company, valued at $1,278,256.98. The disclosure for this sale can be found here.

Other equities analysts have also recently issued research reports about the company. Citigroup Inc. raised Analog Devices from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $67.56 to $66.00 in a report on Wednesday, September 30th. BMO Capital Markets raised Analog Devices from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $63.00 to $66.00 in a report on Wednesday, October 14th. They noted that the move was a valuation call. Nomura reaffirmed a “reduce” rating on shares of Analog Devices in a report on Saturday, November 14th. Sanford C. Bernstein reaffirmed a “hold” rating and issued a $57.00 price target (down previously from $63.00) on shares of Analog Devices in a report on Thursday, November 19th. Finally, Deutsche Bank reaffirmed a “hold” rating and issued a $60.00 price target (down previously from $63.00) on shares of Analog Devices in a report on Friday, November 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $59.52.

Analog Devices (NYSE:ADI) traded up 0.32% on Thursday, reaching $50.74. The company’s stock had a trading volume of 1,968,696 shares. Analog Devices has a 1-year low of $47.24 and a 1-year high of $68.97. The firm’s 50 day moving average price is $54.94 and its 200-day moving average price is $57.78. The company has a market capitalization of $15.83 billion and a price-to-earnings ratio of 23.06.

Analog Devices (NYSE:ADI) last issued its earnings results on Tuesday, November 24th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.20. The company earned $978.70 million during the quarter, compared to analysts’ expectations of $910.46 million. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities analysts forecast that Analog Devices will post $2.89 earnings per share for the current year.

Analog Devices, Inc. is engaged in the design, manufacture and marketing of high-performance analog, mixed-signal and digital signal processing integrated circuits (NYSE:ADI). The Company is focused on solving the engineering challenges associated with signal processing in electronic equipment. The Company’s produces a wide range of products including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro-electro mechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors that are designed to meet the needs of a broad base of customers. The Company focuses on strategic markets where its signal processing technology is often a critical differentiator in its customer’s products, in the industrial, automotive, consumer and communications markets.

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