Nomura Securities Maintains a 'Neutral' on Analog Devices (ADI); Cutting Estimates on Q1 Miss
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Price: $197.94 +0.73%
Rating Summary:
23 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
23 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Nomura Securities maintains a 'Neutral' on Analog Devices (NYSE: ADI) price target of $35.00.
Analyst, Romit Shah, said, "FQ1 revenue of $648mn missed our estimate of $662mn, and EPS of $0.46 was $0.02 below our forecast. FQ2 EPS guidance of $0.48-$0.53 is below our estimate of $0.56 (consensus $0.54). ADI commented that order rates began to accelerate in January, and the momentum continued so far in February. The company is optimistic revenue has bottomed and should start seeing gradual improvements in the next few quarters. We are lowering our EPS estimate for CY12 from $2.35 to $2.23, assuming revenue growth will accelerate in the Jul-12 quarter."
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.
Analyst, Romit Shah, said, "FQ1 revenue of $648mn missed our estimate of $662mn, and EPS of $0.46 was $0.02 below our forecast. FQ2 EPS guidance of $0.48-$0.53 is below our estimate of $0.56 (consensus $0.54). ADI commented that order rates began to accelerate in January, and the momentum continued so far in February. The company is optimistic revenue has bottomed and should start seeing gradual improvements in the next few quarters. We are lowering our EPS estimate for CY12 from $2.35 to $2.23, assuming revenue growth will accelerate in the Jul-12 quarter."
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.
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