Jefferies Maintains a 'Hold' on Analog Devices (ADI); Orders Down But Stabilizing

Jefferies maintains a 'Hold' on Analog Devices (NYSE: ADI) price target raised $3 to $39.

Jefferies analyst says, "ADI reported OctQ below consensus ($15m in revs and $0.04 in EPS ), and guided DecQ to decline by 7.5% QoQ at the mid-pt (7% below consensus). Management indicated that its backlog declined QoQ, but that orders stabilized in October and distributor inventories were about a week below normal. We believe investor concerns on the supply chain and economy are baked in. We lowered CY12 EPS by 3 cents and increased our price target."

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 $34.34 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Freedom Broker Downgrades Workday (WDAY) to Hold
• Assurant (AIZ) PT Raised to $320 at BMO Capital
• Affirm Holdings (AFRM) PT Raised to $101 at BMO Capital