Analog Devices

Analog Devices, Inc. (NASDAQ:ADI) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/20/2024 9.5% Cantor Fitzgerald → $205 Reiterates Neutral → Neutral 02/12/2024 9.5% Cantor Fitzgerald → $205 Reiterates Neutral → Neutral 01/29/2024 9.5% Cantor Fitzgerald → $205 Reiterates Neutral → Neutral 01/23/2024 9.5% Cantor Fitzgerald → $205 Initiates Coverage On → Neutral 01/16/2024 -1.18% Barclays $180 → $185 Maintains Equal-Weight 12/22/2023 — Edward Jones Upgrades Hold → Buy 11/22/2023 14.84% Oppenheimer → $215 Reiterates Outperform → Outperform 11/22/2023 -6.52% Piper Sandler $190 → $175 Maintains Neutral 11/22/2023 12.17% Susquehanna $215 → $210 Maintains Positive 11/22/2023 12.17% UBS $200 → $210 Maintains Buy 11/22/2023 10.04% Truist Securities $213 → $206 Maintains Buy 11/22/2023 16.98% Morgan Stanley $225 → $219 Maintains Overweight 11/17/2023 20.19% Morgan Stanley $176 → $225 Upgrades Equal-Weight → Overweight 11/13/2023 6.83% UBS $210 → $200 Maintains Buy 10/11/2023 -5.99% […]

Analog Devices, Inc. (NASDAQ:ADI) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/12/2024 5.02% Cantor Fitzgerald → $205 Reiterates Neutral → Neutral 01/29/2024 5.02% Cantor Fitzgerald → $205 Reiterates Neutral → Neutral 01/23/2024 5.02% Cantor Fitzgerald → $205 Initiates Coverage On → Neutral 01/16/2024 -5.23% Barclays $180 → $185 Maintains Equal-Weight 12/22/2023 — Edward Jones Upgrades Hold → Buy 11/22/2023 10.14% Oppenheimer → $215 Reiterates Outperform → Outperform 11/22/2023 -10.35% Piper Sandler $190 → $175 Maintains Neutral 11/22/2023 7.58% Susquehanna $215 → $210 Maintains Positive 11/22/2023 7.58% UBS $200 → $210 Maintains Buy 11/22/2023 5.53% Truist Securities $213 → $206 Maintains Buy 11/22/2023 12.19% Morgan Stanley $225 → $219 Maintains Overweight 11/17/2023 15.26% Morgan Stanley $176 → $225 Upgrades Equal-Weight → Overweight 11/13/2023 2.46% UBS $210 → $200 Maintains Buy 10/11/2023 -9.84% Morgan Stanley $185 → $176 Maintains Equal-Weight 09/18/2023 10.14% Susquehanna

Analog Devices, Inc. (NASDAQ:ADI) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 5.02% Cantor Fitzgerald → $205 Reiterates Neutral → Neutral 01/23/2024 5.02% Cantor Fitzgerald → $205 Initiates Coverage On → Neutral 01/16/2024 -5.23% Barclays $180 → $185 Maintains Equal-Weight 12/22/2023 — Edward Jones Upgrades Hold → Buy 11/22/2023 10.14% Oppenheimer → $215 Reiterates Outperform → Outperform 11/22/2023 -10.35% Piper Sandler $190 → $175 Maintains Neutral 11/22/2023 7.58% Susquehanna $215 → $210 Maintains Positive 11/22/2023 7.58% UBS $200 → $210 Maintains Buy 11/22/2023 5.53% Truist Securities $213 → $206 Maintains Buy 11/22/2023 12.19% Morgan Stanley $225 → $219 Maintains Overweight 11/17/2023 15.26% Morgan Stanley $176 → $225 Upgrades Equal-Weight → Overweight 11/13/2023 2.45% UBS $210 → $200 Maintains Buy 10/11/2023 -9.84% Morgan Stanley $185 → $176 Maintains Equal-Weight 09/18/2023 10.14% Susquehanna → $215 Reiterates Positive → Positive 08/24/2023 10.14% Susquehanna $225

Cantor Fitzgerald analyst C J Muse reiterates Analog Devices (NASDAQ:ADI) with a Neutral and maintains $205 price target.

Analog Devices, Inc. (NASDAQ:ADI) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 -1.81% Barclays $180 → $185 Maintains Equal-Weight 12/22/2023 — Edward Jones Upgrades Hold → Buy 11/22/2023 14.12% Oppenheimer → $215 Reiterates Outperform → Outperform 11/22/2023 -7.11% Piper Sandler $190 → $175 Maintains Neutral 11/22/2023 11.46% Susquehanna $215 → $210 Maintains Positive 11/22/2023 11.46% UBS $200 → $210 Maintains Buy 11/22/2023 9.34% Truist Securities $213 → $206 Maintains Buy 11/22/2023 16.24% Morgan Stanley $225 → $219 Maintains Overweight 11/17/2023 19.42% Morgan Stanley $176 → $225 Upgrades Equal-Weight → Overweight 11/13/2023 6.15% UBS $210 → $200 Maintains Buy 10/11/2023 -6.58% Morgan Stanley $185 → $176 Maintains Equal-Weight 09/18/2023 14.12% Susquehanna → $215 Reiterates Positive → Positive 08/24/2023 14.12% Susquehanna $225 → $215 Maintains Positive 08/24/2023 -7.11% Wells Fargo $185 → $175 Maintains Equal-Weight 08/24/2023 11.46% Baird $235 → $210 Maintains Outperform

Barclays analyst Tom O’Malley maintains Analog Devices (NASDAQ:ADI) with a Equal-Weight and raises the price target from $180 to $185.

Analog Devices, Inc. (NASDAQ:ADI) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/22/2023 — Edward Jones Upgrades Hold → Buy 11/22/2023 8.26% Oppenheimer → $215 Reiterates Outperform → Outperform 11/22/2023 -11.88% Piper Sandler $190 → $175 Maintains Neutral 11/22/2023 5.75% Susquehanna $215 → $210 Maintains Positive 11/22/2023 5.75% UBS $200 → $210 Maintains Buy 11/22/2023 3.73% Truist Securities $213 → $206 Maintains Buy 11/22/2023 10.28% Morgan Stanley $225 → $219 Maintains Overweight 11/17/2023 13.3% Morgan Stanley $176 → $225 Upgrades Equal-Weight → Overweight 11/13/2023 0.71% UBS $210 → $200 Maintains Buy 10/11/2023 -11.38% Morgan Stanley $185 → $176 Maintains Equal-Weight 09/18/2023 8.26% Susquehanna → $215 Reiterates Positive → Positive 08/24/2023 8.26% Susquehanna $225 → $215 Maintains Positive 08/24/2023 -11.88% Wells Fargo $185 → $175 Maintains Equal-Weight 08/24/2023 5.75% Baird $235 → $210 Maintains Outperform 08/24/2023 5.75% UBS $215 → $210 Maintains Buy

Analog Devices (ADI) is entering the later stages of a downcycle, with the severity of the current downturn pointing to a bottom in Q2 of next year, Morgan Stanley said in a note emailed Friday. “We are not yet at bottom — but it is in sight: current analog/MCU downcycle is expected to bottom in May 2024,” the investment bank said, citing a 24-month peak to trough view. The current cycle peaked in May 2022, according to analysts. Morgan Stanley said Analog Devices has outperformed its peers in the past three downcycles in terms of gross margin, adding the company’s forward earnings are de-risked and the company has relatively higher ASP products that should limit direct competition with Chinese products. Analog Devices’ quarterly results, expected on Nov. 21, “will be mixed at best,” the investment bank said. “We revise down estimates, and now forecast a 23% peak-to-trough revenue decline, with

By Tae Kim Analog Devices stock is an attractive buying opportunity because the worst of the downturn in chip demand is nearly over, according to Morgan Stanley. On Thursday, analyst Joseph Moore raised his rating for Analog Devices shares (ticker: ADI) to Overweight from Equal-weight. He increased his price target for the stock to $225 from $176. “We are not yet at bottom — but it is in sight,” he wrote. “The report next week will be mixed at best, but has potential to be the ‘last cut’”. Analog Devices is slated to report its fiscal fourth-quarter earnings on Tuesday. The stock was up 1.5% to $182.55 in midday trading Friday. The analyst said that six out of the past eight chip downturns lasted 22 to 26 months. He believes Analog Devices chip shipments peaked in May 2022 before entering the current slide, suggesting the bottom may come around May

Outlook: Analog Devices sees Q4 revenue of $2.70 billion, +/- $100 million, vs. the consensus of $3.00 billion. The company sees adjusted EPS of $2.00, +/-$0.10, vs. the consensus of $2.39.

Analog Devices, Inc (NASDAQ:ADI) reported a third-quarter FY23 revenue decline of 1% year-on-year to $3.08 billion, missing the consensus of $3.10 billion. Adjusted EPS of $2.49 missed the consensus of $2.52. Analog Devices’ Industrial revenue grew 4% Y/Y to $1.63 billion. Automotive revenue increased 15% Y/Y to $747.6 million. Communications revenue declined by 23% to $380.5 million, and Consumer revenue decreased by 21% to $319.2 million. The adjusted gross margin declined by 190 bps to 72.2% as lower revenue weighed on the profits. The adjusted operating margin fell by 230 bps to 47.8%. Analog Devices held $1.15 billion in cash and equivalents and generated $1.14 billion in operating cash flow. Dividend: The board declared a quarterly cash dividend of $0.86 per share. “In a challenging operating environment, ADI executed well, and delivered third quarter results within our expectations. However, the customer inventory adjustments we mentioned last quarter have accelerated as economic conditions deteriorate