Truist lowered the firm’s price target on Analog Devices to $206 from $213 but keeps a Buy rating on the shares. The company’s Q4 results were “about inline” and its guidance was below consensus, but the firm sees a “bottoming” in revenue performance as the pace of cancels is “abruptly falling” just as leadtimes normalize, the analyst tells investors in a research note. Key to growth for Analog Devices is its historical acquisitions – Hittite, Linear, and Maxim – which continue to support growth and margins, the firm added.
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