ADI Guidance

Analog Devices, Inc.

received its guidance outlook by analysts on Friday after its shares were last seen trading on Thursday 4.1 percent lower at $48.41, and reached a new annual low of $47.24. Wall Street analyst Craig A. Ellis at B. Riley issued a Buy rating with a 24 percent return on Friday and had the stock's price target reduced to $60.00 from $75.00 in a research note issued to investors. The firm sees ADI's miss as "lower" due to its Consumer segment and no change to its core automotive, industrial and communications sales. On Thursday, SunTrust Robinson Humphrey issued a Buy rating with a lowered PT of $61.00 from $71.00 in a research note. The firm sees ADI's bottom line as having a downside from Apple Inc.

that is "larger" than they expected, however the firm remains "constructive" on a likely M&A. "We stay constructive on potential upside from M&A. We take our CY16 EPS estimate to $3.05 (from $3.57), PT goes to $61 (from $71) based on a consistent 20x multiple applied to our CY16 EPS," the firm commented. On Friday, JPMorgan announced that it had expected its

to be at nearly 9 percent below its previous forecast.