Citi moved Analog Devices (ADI) to the firm’s top pick in semiconductors, saying the company has lower downside risk in autos versus other analog names given it just announced earnings. Broadcom (AVGO) and AMD (AMD) continue to be Citi’s top artificial intelligence picks and remain in the second and third spot respectively, the analyst tells investors in a research note. The firm’s other Buy-rated names in semis include Texas Instruments (TXN), Micron (MU) and Microchip (Microchip).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADI:
- KeyBanc sees September event as a modest negative for Apple, positive for Cirrus
- Analog Devices CEO sells $2.3M in common stock
- Analog Devices put volume heavy and directionally bearish
- Analog Devices price target raised to $257 from $250 at Morgan Stanley
- Analog Devices price target lowered to $255 from $260 at BofA