Analog Devices Inc Stock Forecast:
Based on the analysis of 27 analysts, the average target price for Analog Devices Inc over the next 12 months is USD 205.27. The average analyst rating for the company is Strong Buy. However, Stock Target Advisor‘s own analysis of the stock suggests a Neutral outlook, based on 6 positive signals and 6 negative signals. The last closing price of Analog Devices Inc was USD 173.20. The stock has experienced a decrease of -7.85% over the past week and -7.36% over the past month. However, it has shown a positive growth of +7.01% over the last year.
Analysts Coverage Change:
- KeyBanc Capital Markets maintains an “Overweight” rating for ADI, and lowers the target price to $220 from $230.
- TD Cowen maintains an “Outperform” rating for ADI, and lowers the target price to $200 from $225.
- Deutsche Bank lowers the target price for (ADI:NSD) to $195 from $200.
- Morgan Stanley & Co. maintains an “Equal-Weight” rating for ADI, and lowers the target price to $195 from 210.
- Sanford C. Bernstein & Co. maintains an “Outperform” rating for ADI, and lowers the target price to $210 from $220.
- Wells Fargo & Company lowers the target price for ADI to $185 from $190.
- Truist Financial maintains a “Buy” rating for ADI, and lowers the target price o $213 from $251
- BMO Capital Markets maintains an “Outperform” rating for ADI, and lowers the target price to $200 from $215.
- Citigroup maintains a “Buy” rating for ADI, and lowers the target price to $200from $225.
- Oppenheimer & Co. maintains an “Outperform” rating for ADI, and lowers the target price to $215 from$230.
Analog Devices News:
Chipmaker Analog Devices (ADI:NSD) exceeded market expectations for its fiscal second quarter, reporting strong earnings and revenue figures. However, the company’s forecast for the current quarter fell short of analysts’ projections, leading to a decline in ADI stock following the announcement.
For the quarter ended April 29, Analog Devices, achieved adjusted earnings of $2.83 per share on sales totaling $3.26 billion. This performance surpassed the consensus estimates of analysts polled by FactSet, who had predicted earnings of $2.75 per share on sales of $3.21 billion. The company demonstrated impressive year-over-year growth, with earnings rising by 18% and sales advancing by 10%.
Analog Devices is a leading player in the semiconductor industry, specializing in the design and manufacturing of integrated circuits used in a wide range of applications, including industrial, automotive, healthcare, and consumer electronics. The company’s ability to outperform market expectations in a competitive landscape underscores its strength and resilience.