Piper Sandler lowered the firm’s price target on Analog Devices (ADI) to $220 from $235 and keeps a Neutral rating on the shares. The firm notes the company reported mixed results for its Q4 earnings as October quarter results exceeded expectations, while January guidance was below estimates. Looking ahead, Analog Devices has guided for a sequential decline of LSD in the segment and believes that volume growth will remain muted through the coming year, Piper adds.
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