Analog Devices Reports Solid Fiscal 1Q Results With Healthy B2B Chip Demand; Raising FVE to $96
Analog Devices reported solid fiscal first-quarter results and provided investors with a decent second-quarter forecast that was ahead of our prior expectations on the top line and points to healthy broad-based chip demand among business-to-business (B2B) customers. We will raise our fair value estimate for wide-moat Analog Devices to $96 per share from $90, and view shares as slightly undervalued today.The company’s revenue in the January quarter was $1.52 billion, up 54% year over year as it ...
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