NEW YORK (TheStreet) --Shares of Analog Devices Inc. (ADI) - Get Report are higher by 8.16% to $63.64 on heavy volume in mid-morning trading on Monday, after analysts at Barclays upgraded their rating on the stock to "overweight" from "equal weight."

The firm upped its price target on Analog Devices to $70 from $55.

Barclays said it raised its rating on the company, which designs, manufactures, and markets high-performance analog, mixed signal and digital signal processing integrated circuits based on its belief the company has secured multiple socket wins with Apple's (AAPL) - Get Report iPhone and iPad, theflyonthewall.com reports.

So far today, 4.49 million shares of Analog Devices have exchanged hands as compared to its average daily volume of 1.91 million shares.

Barclays believes Analog's 3D-touch feature has been designed into the iPhone 6S and the new iPads coming out next year, theflyonthewall.com added.

Separately, TheStreet Ratings team rates ANALOG DEVICES as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate ANALOG DEVICES (ADI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The revenue growth came in higher than the industry average of 10.6%. Since the same quarter one year prior, revenues rose by 22.9%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
• ADI's debt-to-equity ratio is very low at 0.18 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 5.18, which clearly demonstrates the ability to cover short-term cash needs.
• The stock has risen over the past year as investors have generally rewarded the company for its earnings growth and other positive factors like the ones we have cited in this report. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
• Net operating cash flow has slightly increased to $168.65 million or 7.09% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of -16.21%.
• ANALOG DEVICES has improved earnings per share by 18.8% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, ANALOG DEVICES reported lower earnings of $1.98 versus $2.14 in the prior year. This year, the market expects an improvement in earnings ($2.92 versus $1.98).
• You can view the full analysis from the report here: ADI Ratings Report