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Bernstein Sticks to Its Hold Rating for Analog Devices (ADI)

Tipranks - Tipranks - Tue Jun 9, 6:52AM CDT

In a report released today, from Bernstein maintained a Hold rating on Analog Devices, with a price target of $430.00.

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In addition to Bernstein, Analog Devices also received a Hold from Truist Financial’s William Stein in a report issued on May 25. However, on June 1, Bank of America Securities maintained a Buy rating on Analog Devices (NASDAQ: ADI).

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Based on Analog Devices’ latest earnings release for the quarter ending May 2, the company reported a quarterly revenue of $3.62 billion and a net profit of $1.18 billion. In comparison, last year the company earned a revenue of $2.64 billion and had a net profit of $569.77 million

Based on the recent corporate insider activity of 92 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. Earlier this month, Martin Cotter, the SVP, Vertical Business Units of ADI sold 17,594.00 shares for a total of $7,354,292.00.

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