Analog Devices Inc (NASDAQ:ADI) on Wednesday reported upbeat fiscal first-quarter results.
Here are the key analyst insights:
- JPMorgan analyst Harlan Sur maintained an Overweight rating, while raising the price target from $320 to $400.
- KeyBanc Capital Markets analyst John Vinh reiterated an Overweight rating, while taking the price target higher from $375 to $430.
Check out other analyst stock ratings.
JPMorgan: Analog Devices released “another solid set of results and guidance,” driven by “strong growth in the AI infrastructure-levered Data Center segment” and Wireless momentum, Sur said in a note. Revenues came in at $3.16 billion, up 3% sequentially and 30% year-on-year, topping consensus of $3.12 billion, he added.
Momentum remained strong into the fiscal second quarter, backed by “sustained strong …