Report
Brian Colello, CPA
EUR 101.80 For Business Accounts Only

ADI Firing on All Cylinders as Linear Tech Merger Remains on Track; Raising FVE to $70 From $66

Analog Devices reported strong fiscal first-quarter results and provided a second-quarter forecast that was ahead of our prior expectations, pointing to not only healthy demand from Apple for iPhone-related content, but also to ADI's core broad-based businesses in industrial and automotive. We have raised our fair value estimate for wide-moat ADI to $70 from $66, and although we continue to like the company's business model (especially with Linear Tech entering the fold by the end of April), sha...
Underlying
Analog Devices Inc.

Analog Devices is an analog technology company. The company designs, manufactures, and markets a portfolio of solutions, including integrated circuits, algorithms, software, and subsystems. The company's analog products include data converter that translate real-world analog signals into digital data and also translate digital data into analog signals, amplifiers that condition analog signals, and power management and reference products that include functions such as power conversion, driver monitoring, sequencing and energy management. The company's digital signal processing products are designed to execute software programs, or algorithms, associated with processing digitized real-time, real-world data.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Brian Colello, CPA

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