Jefferies Lowers Estimates on Analog Devices (ADI) After Q1, But Lifts Price Target

Jefferies lowered estimates on Analog Devices (NYSE: ADI) after Q1 results but raised its price target from $39 to $43. The firm's rating was maintained at Hold.

The firm comments, "ADI reported JanQ below consensus ($14m in revs and $0.02 in EPS ), and guided AprQ to increase by 2.6% QoQ at the mid-pt (2% below consensus). Management indicated that its orders accelerated in Jan and remained strong in Feb as some larger customers have become marginally more optimistic."

Q2 EPS estimate goes from $0.57 to $0.51 and FY12 goes from $2.37 to $2.15 and FY13 goes from $2.90 to $2.78.


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 $39.82 yesterday, with a 52 week range of $29.23-$43.28.

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