Here's How Analysts View Analog Devices Post Investor Day

Analog Devices Inc ADI highlighted its strategic vision and new financial model at its investor day meet.
Piper Sandler analyst Harsh Kumar reiterated an Overweight with a $210 price target (30% upside).
Kumar expects the company to benefit from several secular growth drivers within the semiconductor industry.
Related: Analog Devices Tops Q1 Backed By Momentum Across End Markets, Geographies; Boosts Dividend By 10%
Needham analyst Quinn Bolton set a Buy rating with a $205 (26% upside) price target.
ADI has built the industry's preeminent precision analog franchise; and derives the vast majority of its revenue from less volatile, long product cycle end-markets.
Bolton expects ADI's sales to grow faster than the analog market.
Consumer headwinds were decreasing. The Maxim acquisition enhances scale, diversified revenue, and provides cross-selling opportunities.
KeyBanc analyst John Vinh had an Overweight rating with a price target of $220 (36% upside).
ADI increased its long-term revenue growth to 7-10%.
Revenue growth will likely be driven by automotive (low-teens CAGR) and communications (10% CAGR), while industrial and consumer will likely grow HSD.
ADI also increased Maxim cost synergies to $400 million from $275 million.
ADI sees $1 billion+ in Maxim revenue synergies contributing to long-term growth.
ADI also noted it sees Q2 (April) revenues above the high end.
Price Action: ADI shares traded higher by 1.43% at $162.26 on the last check Wednesday.

Momentum61.43

Growth73.24

Quality27.85

Value12.33

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Medium

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