Analog Devices Faces Inventory Headwinds and Mixed Reviews from Top Analysts
Portfolio Pulse from Anusuya Lahiri
Analog Devices, Inc (ADI) is facing inventory challenges and mixed reviews from top analysts. Raymond James analyst Melissa Fairbanks reiterated an Outperform on ADI with a price target of $200. Needham analyst N. Quinn Bolton maintained a Hold rating, citing inventory digestion across all end markets and a 4Q guidance below consensus. Oppenheimer analyst Rick Schafer reiterated an Outperform and a $215 price target, despite ADI's soft results and outlook. ADI shares traded lower by 2.17% at $173.63.
August 24, 2023 | 5:53 pm
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NEUTRAL IMPACT
Texas Instruments Inc (TXN) was mentioned in comparison to ADI's inventory challenges.
The mention of TXN is in comparison to ADI's inventory challenges and does not provide any specific information that would impact TXN's stock price.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEGATIVE IMPACT
Analog Devices faces inventory challenges and mixed analyst ratings. Shares traded lower by 2.17%.
The mixed analyst ratings and inventory challenges are likely to negatively impact ADI's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100