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Analysts React To Analog Devices' Linear Purchase

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Analysts React To Analog Devices' Linear Purchase
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So far, the market seems to like Analog Devices, Inc. (NASDAQ: ADI)’s $14.8 billion buyout of chipmaker Linear Technology Corporation (NASDAQ: LLTC). Analog’s share price has jumped more than 6.7 percent in the past five trading sessions.

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News of the big deal drove several rating and price target changes among Wall Street firms:

  • Barclays maintains its Equal-Weight rating, but raised its price target from $55 to $64.
  • Goldman Sachs upgraded Analog from Sell to Neutral and upped its price target from $50 to $60.
  • Evercore ISI Group upgraded the stock from Hold to Buy.
  • Oppenheimer upgraded Analog from Market Perform to Outperform.
  • Morgan Stanley upgraded the stock from Equal Weight to Overweight and raised its price target from $56 to $78, the highest target of the bunch.
  • Citigroup was unimpressed by the deal and issued the lone downgrade of Analog, dropping its rating from Buy to Neutral. The firm also raised its price target from $60 to $68.

Analog Devices is expected to release Q2 earnings on August 17.

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Disclosure: The author holds no position in the stocks mentioned.

Latest Ratings for ADI

DateFirmActionFromTo
Jun 2017Raymond JamesReinstatesMarket Perform
Jun 2017NomuraDowngradesNeutralReduce
Apr 2017Stephens & Co.UpgradesEqual-WeightOverweight

View More Analyst Ratings for ADI
View the Latest Analyst Ratings

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