Analog Devices, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Joseph Moore from Morgan Stanley maintained a Buy rating on the stock and has a $293.00 price target.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Joseph Moore has given his Buy rating due to a combination of factors including Analog Devices’ consistent revenue and earnings per share growth, which slightly exceeded the midpoint of their guidance. The company is experiencing strong demand across various end markets, which is expected to support future upward revisions.
In particular, the industrial segment has demonstrated six consecutive quarters of sequential growth, with expectations for a seventh, while the automotive sector showed resilience with a 1% quarter-over-quarter increase despite an anticipated decline. Additionally, the communications segment is benefiting from data center strength, and the consumer segment is seeing content gains in key applications, contributing to a significant average selling price uplift. These factors, along with ADI’s exposure to secular trends like data center and AI, are offsetting broader market softness, justifying the Buy rating.
According to TipRanks, Moore is a 5-star analyst with an average return of 17.0% and a 59.34% success rate. Moore covers the Technology sector, focusing on stocks such as Micron, Nvidia, and SanDisk Corp.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $271.00 price target.