In a report released today, Toshiya Hari from Goldman Sachs maintained a Buy rating on Analog Devices (ADI – Research Report), with a price target of $205.00.
Toshiya Hari has given his Buy rating due to a combination of factors surrounding Analog Devices’ recent performance and future prospects. Despite the company’s guidance for its second-quarter revenue and operating EPS falling below expectations, there is an anticipation of a cyclical trough approaching, as indicated by the increase in bookings for the second consecutive quarter. This signals potential recovery and growth on the horizon, reinforcing Hari’s positive outlook for ADI.
Moreover, Hari advocates for ADI as a top pick among large-cap broad-based semiconductor stocks for several reasons. He highlights Analog Devices’ formidable and enduring market position in High-Performance Analog, its significant exposure to fast-growing sectors such as Factory Automation, Digital Healthcare, and Electric Vehicles, and its robust margin profile, which is underpinned by an agile manufacturing approach and prudent operational expense management. Additionally, Hari underscores ADI’s dedication to enhancing shareholder returns over time. While earnings estimates may have been moderated, the 12-month price target for ADI has been elevated to $205, reflecting Hari’s confidence in the company’s valuation and long-term performance.
In another report released on February 16, Citi also reiterated a Buy rating on the stock with a $210.00 price target.
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Analog Devices (ADI) Company Description:
Massachusetts-based Analog Devices, Inc. is a multinational semiconductor company, which designs, develops, manufactures, and markets integrated circuits (ICs) that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, power management and reference products and digital signal processing and system products. The company also serves clients in the industrial, automotive, consumer, and communications markets.
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