Valve. Half the stuff they create is shit and the other half is mediocre at best.

Notable Mentions: Nintendo and Bethesda.

TLOU is a masterpiece.

Naughty Dog after Uncharted 2 became overrated.
Telltale Games after The Walking Dead S1 became overrated.

Those are the only ones i can think of.

Rockstar
Loved red dead so much but the GTA V and IV not worth all the praise they been getting

Nintendo stands out. Little change in 30 years!

Naughty Dog the only real answer. They are good and they have avoided real clunkers, but they are the only developer people really go on about as though they are untouchable.

Nintendo is overrated by some, but when you consider the wealth of games they have, from some of the classic, most influential games of all time to some of the best games still being put out (Marrio Kart and Super Smash Bros may or may not appeal to you but it's hard to deny they are well made games succeeding at what they do and among the biggest and best received games this year). Some may argue they have also made some poor or average games over the years as well, but the sheer quantity of their output makes that inevitable - imagine they were a third party developer who had made only mainline Mario and Zelda titles, it would still be a greater number of amazing games than almost any other developer with very few sub-par ones. And the amount of anti-Nintendo sentiment out there ("rehash!" "for babies!" "not matoor enough for me!") is enough to balance out the people who act as though their games are automatically infinitely better then everyone else's games and makes them not the most overrated developer around.

I'm starting to get a lot of laughs with this thread. He should of set it up with a poll. I can see why some people don't like naughty dog. Some people felt that TLOU was too realistic or hit too close to home. Some felt that games should feel like a game not like a simulated movie. So I can understand some of the criticism. I'm not gonna bother trying to defend naughty dog against stuff like that. That's really a matter of preference there and not about being an overrated developer.

Half Life 1 was revolutionary. Steam was revolutionary. The rest was above average IMO.

Why do you have to tease me so

Anyway I'll echo what others have said in Naughty Dog. Don't get me wrong, I love Crash and Uncharted is cool, TLoU is awesome but they're hardly magicians like a lot of people make them out to be. 

Another dev would have to be Ubisoft. Nothing from them really stands out above the rest.

And let's make sure this thread doesn't get too out of hand; no need for baseless allegations for example.

I think it's more interesting that Ubisoft and Squeenix got mentioned since they're pretty much branded as the scum of the earth. They can't go any lower!