On July 14, Analog Devices rose 3.11% in pre-market trading, trading at $398.87/share, with turnover of $4.0785 million. The move was driven by KeyBanc raising its price target on ADI from $500 to $525 while maintaining an Overweight rating, coinciding with a broad semiconductor sector rebound following the prior session's selloff.
According to FactSet, analysts hold an average Overweight rating on ADI with a mean target price of $462.21. Cantor Fitzgerald previously lifted its target to $550 from $510, while Stifel raised its target to $498. Multiple institutions have concentrated upgrades in recent weeks, reflecting optimism around the company's AI power delivery expansion following its acquisition of Empower Semiconductor, as well as demand signals from extended product lead times that prompted ADI to advise customers to place orders six months in advance.
The semiconductor sector rebounded broadly in pre-market trading after a significant pullback in the prior session, during which ADI fell 3.14% alongside declines in Intel, Micron, and AMD.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments