Today Barrons is reporting: "Wall Street analysts are getting more optimistic about shares of Analog Devices and the chip manufacturer's ability to do well even if the economy falls into a recession. On Tuesday, Analog Devices ( ticker: ADI ) reported strong earnings." For full coverage click here. Shares of the large-cap Technology company have not moved much on the news as of the afternoon trading session, and are currently trading at $169.17.
Analog Devices, Inc. designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company belongs to the Technology sector, which has an average price to earnings (P/E) ratio of 26.5 and an average price to book (P/B) ratio of 5.57. In contrast, Analog Devices has a trailing 12 month P/E ratio of 50.1 and a P/B ratio of 2.4.
Analog Devices has moved -7.7% over the last year compared to -14.8% for the S&P 500 -- a difference of 7.1%. Analog Devices has a 52 week high of $188.2 and a 52 week low of $133.48. At today's price of $169.17 per share, Analog Devices is -11.14% away from its target price of $190.37, and on average, analysts give the stock a rating of buy. 1.4% of the company's shares are linked to short positions, and 88.6% of the shares are owned by institutional investors.