Market Overview

UPDATE: ISI Group Reiterates Buy Rating, Raises PT on Analog Devices on April Quarter Outlook

Related ADI
Mid-Afternoon Market Update: Ctrip.com Drops On Downbeat Q4 Outlook; Analog Devices Shares Spike Higher; TiVo Tumbles ~7%
Analog Devices Conference Call Highlights
Making Money With Charles Payne: 08/28/14 (Fox Business)

In a report published Wednesday, ISI Group reiterated its Buy rating on Analog Devices (NASDAQ: ADI), and raised its price target from $48.00 to $50.00.

ISI Group noted, “ADI's January quarter sales of $622M came in below the midpoint of guidance as well as our and consensus estimates ($639M/$633M). Contrary to management's initial expectations, sales in all segments fell, with consumer (-22% qoq) pacing the decline, followed by communications (-12% qoq), industrial (-8% qoq), and automotive (-3% qoq). Despite the lower sales, EPS came in at $0.47 ahead of our estimate of $0.46 (Street: $0.45), helped by better gross margins, lower opex, and a more favorable tax rate.”

Analog Devices closed on Tuesday at $47.01.

Latest Ratings for ADI

DateFirmActionFromTo
Dec 2014CitigroupMaintainsNeutral
Nov 2014JefferiesMaintainsBuy
Oct 2014OppenheimerMaintainsOutperform

View More Analyst Ratings for ADI
View the Latest Analyst Ratings

Posted-In: ISI GroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (ADI)

Around the Web, We're Loving...

Get Benzinga's Newsletters