Wells Fargo Remains a Buy on Analog Devices (ADI)
In a report released on March 20, Joseph Quatrochi from Wells Fargo maintained a Buy rating on Analog Devices, with a price target of $400.00.
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According to TipRanks, Quatrochi is a 5-star analyst with an average return of 17.0% and a 58.51% success rate. Quatrochi covers the Technology sector, focusing on stocks such as Analog Devices, Monolithic Power, and ON Semiconductor.
In addition to Wells Fargo, Analog Devices also received a Buy from TipRanks – OpenAI’s OpenAI Semiconductors in a report issued on March 13. However, on the same day, TipRanks – Anthropic downgraded Analog Devices (NASDAQ: ADI) to a Hold.
Based on Analog Devices’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $3.16 billion and a net profit of $830.83 million. In comparison, last year the company earned a revenue of $2.42 billion and had a net profit of $391.32 million
Based on the recent corporate insider activity of 89 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, Ray Stata, a Director at ADI sold 1,226.00 shares for a total of $415,797.90.
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