Canaccord Genuity Reiterates a 'Buy' on Analog Devices (ADI); Recovery in Booking
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Price: $46.46 -0.87%
Rating Summary:
7 Buy, 16 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 22 | New: 19
Rating Summary:
7 Buy, 16 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 22 | New: 19
Trade ADI Now!
Canaccord Genuity reiterates a 'Buy' on Analog Devices (NASDAQ: ADI) price target of $45.00 (from $42.00).
Analyst, Bobby Burleson, said, "We reiterate our rating on ADI given healthy dividend yield, beginnings of recovery for distributor bookings. Low exposure to computing coupled with consumer product cycle (MEMS microphone win) and stable core business should move shares higher."
"Management guided revenue for CQ3 (Oct) up 2.5% ($700M) at the midpoint and EPS of $0.54-$0.60. This compared to consensus estimates of $713.8 million and $0.60 and our estimates of $720 million and $0.59."
For an analyst ratings summary and ratings history on Analog Devices click here. For more ratings news on Analog Devices click here.
Shares of Analog Devices closed at $40.34 yesterday, with a 52 week range of $30.65-$40.91.
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Analyst, Bobby Burleson, said, "We reiterate our rating on ADI given healthy dividend yield, beginnings of recovery for distributor bookings. Low exposure to computing coupled with consumer product cycle (MEMS microphone win) and stable core business should move shares higher."
"Management guided revenue for CQ3 (Oct) up 2.5% ($700M) at the midpoint and EPS of $0.54-$0.60. This compared to consensus estimates of $713.8 million and $0.60 and our estimates of $720 million and $0.59."
For an analyst ratings summary and ratings history on Analog Devices click here. For more ratings news on Analog Devices click here.
Shares of Analog Devices closed at $40.34 yesterday, with a 52 week range of $30.65-$40.91.
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