Piper Sandler lowered the firm’s price target on Analog Devices (ADI) to $220 from $235 and keeps a Neutral rating on the shares. The firm notes the company reported mixed results for its Q4 earnings as October quarter results exceeded expectations, while January guidance was below estimates. Looking ahead, Analog Devices has guided for a sequential decline of LSD in the segment and believes that volume growth will remain muted through the coming year, Piper adds.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADI:
- Analog Devices, Inc. Reports Resilient Fiscal 2024 Performance
- Analog Devices, Inc. Earnings Report: Is it a Beat?
- Analog Devices price target raised to $250 from $245 at BofA
- Analog Devices sees revenue recovering coming out of Q1 seasonality
- ADI Earnings: Analog Devices Gains on Better-than-Expected Q4 Results