Analog Devices Inc

ADI: XNAS (USA)
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Analog Devices Earnings: Raising Our Fair Value to $245 From $225 as Near-Term Outlook Improves

Wide-moat Analog Devices reported solid fiscal first-quarter results and provided an upbeat outlook for the second quarter as the business is returning to year-over-year growth after a severe cyclical downturn that led to a 23% revenue decline in fiscal 2024. We’re encouraged by the anticipated rebound in industrial and automotive chip demand and think it bodes well for strong growth, albeit on easy comparisons, for ADI (and perhaps its peers) in the near term. We've raised our fair value estimate to $245 per share from $225.

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