Shares of Analog Devices Inc (NASDAQ:ADI) climbed in early trading on Wednesday after the company reported upbeat third-quarter earnings.
Here are some key analyst takeaways:
JPMorgan analyst Harlan Sur maintained an Overweight rating, while raising the price target from $310 to $320.
Benchmark analyst David Williams reaffirmed a Buy rating and a $285 price target.
Needham analyst Quinn Bolton reiterated a Hold rating on the stock.
Check out other analyst stock ratings.
JPMorgan: Analog Devices reported strong results and guidance, which were “underpinned by continued cyclical tailwinds” and momentum in “key areas of secular growth,” Sur said in a note. Trends remain above seasonal levels, driving improving year-over-year comps.
Analog Devices’ quarterly revenues are fast approaching prior peak levels. They could even …