On Nov 28, major Wall Street analysts update their ratings for $Analog Devices (ADI.US)$, with price targets ranging from $220 to $280.
Morgan Stanley analyst Joseph Moore maintains with a buy rating, and maintains the target price at $248.
Goldman Sachs analyst Toshiya Hari maintains with a buy rating, and adjusts the target price from $254 to $261.
Evercore analyst Mark Lipacis maintains with a buy rating, and maintains the target price at $280.
TD Cowen analyst Joshua Buchalter maintains with a buy rating, and maintains the target price at $260.
Oppenheimer analyst Rick Schafer maintains with a buy rating, and maintains the target price at $245.
Furthermore, according to the comprehensive report, the opinions of $Analog Devices (ADI.US)$'s main analysts recently are as follows:
Analog Devices reported results that aligned with expectations for its October-ending quarter but projected a slightly softer outlook for the January quarter. The company is recognized for its effective management during downturns and is currently positioned past the trough. Future recovery is anticipated to be dependent on end-market conditions.
Analog Devices reported Q4 results that surpassed expectations, driven by a robust performance in the China auto sector and steady consumer demand. The company's forecast for Q1 sales align with prevailing market projections, anticipating a 4% sequential decline. Despite expectations for potent growth in FY25, analysts remain cautious, awaiting more substantial growth in the company's primary industrial segment. Additionally, this scenario poses a somewhat negative implication for peers within the industrial sector, whereas projections are neutral to slightly positive for competitors in the automotive industry.
The firm's assessment suggests that after undergoing seven quarters of inventory correction, the supply chain is seen as cautious heading to below 'normal' levels. It is observed that Analog Devices is shipping approximately 22% below consumption, which implies a potential substantial increase in demand anticipated to commence by the end of January or April.
Investors may face disappointment due to seasonal declines postponing the recovery of Gross Margins and Operating Margins, however, a clean inventory position is expected to be advantageous when demand picks up.
Here are the latest investment ratings and price targets for $Analog Devices (ADI.US)$ from 8 analysts:
Note:
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