Analog Devices initiated with a Sell at Seaport Research

Seaport Research initiated coverage of Analog Devices (ADI) with a Sell rating and $155 price target Outside of China EVs, industrial markets in most markets have not really recovered or began restocking of semis and given that interest rates and recession fears appear to have put a brake on cyclical recovery, the firm sees a prolonged downturn in analog semis, the analyst tells investors.