Analog Devices reports Q3 beat, lifts Q4 outlook
Analog Devices Inc. reported adjusted third-quarter earnings of $3.45 per share and revenue of $4.02 billion, both above estimates, and issued fourth-quarter guidance above consensus.
Analog Devices Inc. (NASDAQ: ADI ) on Wednesday reported upbeat third-quarter results and issued strong fourth-quarter guidance. 33. 92 billion consensus estimate.
54 at the midpoint. 07 billion consensus estimate at the midpoint. “ADI delivered a strong third quarter, exceeding the midpoint of our revenue, margin, and earnings outlook as we capitalized on broad-based demand,” said Vincent Roche, CEO and Chair. “We continue to extend our leadership through a powerful combination of innovation, deep customer collaboration, and manufacturing agility.
17 on Thursday. These analysts made changes to their price targets on Analog Devices following earnings announcement. Needham analyst N. Quinn Bolton maintained the stock with a Buy and raised the price target from $440 to $450.
Wells Fargo analyst Joe Quatrochi maintained the stock with an Overweight rating and lowered the price target from $515 to $500. Bernstein analyst Stacy Rasgon upgraded the stock from Market Perform to Outperform and raised the price target from $430 to $465. Considering buying ADI stock? Here’s what analysts think: Photo via Shutterstock