Canaccord Reiterates Buy on Analog Devices (ADI); $37 PT
More News related to ADI
- Analog Devices Sigma-Delta Converter is Unmatched in Speed and Resolution for Precision Sensing
- Analog Devices' 16-Bit, 10-MSPS SAR Converter Surpasses Industry Performance Benchmark
- Adriana Grants Incentive Stock Options
- Adriana Appoints Joseph Fodor as Executive Vice President
- Analog Devices (ADI) Chairman Sells 10K Shares
Canaccord Adams reiterates its Buy rating and $37 price target on Analog Devices (NYSE: ADI).
The firm believes that Analog Device's focus on moving away from its computing and handset positions and towards industrial makes it a "compelling defensive play during the current period of uncertainty."
Canaccord raised its Q2 and FY08 estimates on Analog Devices; revs for Q2 move from $641 million to $658 million, versus the Street consensus of $655.64 million. EPS for Q2 go from $0.41 to $0.44, versus the consensus of $0.45. On a full year basis, Canaccord expects Analog Devices to report sales of $2.657 billion, up from $2.589 billion previously. The Street is currently expecting revs of $2.52 billion. The firm raised its FY08 EPS estimate from $1.66 to $1.80, versus $1.68.
Analog Devices, Inc. engages in the design, manufacture, and marketing of analog, mixed-signal, and digital signal processing integrated circuits used in industrial, communication, computer, and consumer applications.
Related Categories
Analyst CommentsStocks Mentioned
-0.53Related Entities
Sign up for StreetInsider Free!
Recieve full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
