Business

Goldman calls Analog Devices overvalued

Analog’s products include a chip for auto radar systems.
Analog’s products include a chip for auto radar systems.Credit: Yoon S. Byun/Globe sTaff/File 2011

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Norwood-based Analog Devices fell after Goldman Sachs advised clients to sell the stock, saying it’s overvalued. The stock is falling behind its peers when it comes to growth but still carrying a high valuation, the firm said. Goldman has a $41 price target, suggesting a 20 percent downside to the current price. The company says it is the world leader in data conversion and signal conditioning technology, with 60,000 customers representing nearly all types of electronic equipment.

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