Nomura Securities Maintains a 'Neutral' on Analog Devices (ADI); F4Q Earnings Review

Nomura Securities maintains a 'Neutral' on Analog Devices (NYSE: ADI) price target raised from $30 to $35.

Nomura analyt, Romit Shah, said, "F4Q revenue and gross margin missed our estimate and guidance for F1Q was below our forecast. However, ADI commented that order rates have stabilized in Oct and Nov and inventories at ADI and disti are in good shape. ADI has weathered the downturn fairly well. We are lowering our EPS estimate for CY12 from $2.55 to $2.35 assuming revenue growth resumes in the Apr-12 quarter. While we recognize that weakness in the core analog business may persist into 2012, ADI has a low valuation relative to the comp group."

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

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery