Auriga Maintains Sell Rating On Analog Devices, Inc. (ADI)

Analysts Daniel Berenbaum and Jie Liu at Auriga have released an update on Analog Devices, Inc. (NYSE: ADI). The company reported its second-quarter results on Tuesday.

Analog Devices reported a strong quarter, with gross margin surprising on the upside. However, analysts say that with deferred income increasing faster than sales and Analog’s industrial segment now far above prior peak, investors are likely to focus on uncertainty moving into the second-half of this year and in early 2011.

Analysts at Auriga have reiterated their Sell rating for Analog Devices Inc. The price target has been maintained at $24.