More from Dividend.com
Referenced Stocks

Citigroup Lowers Price Target for Analog Devices amid Tepid Sales Outlook (ADI)

By Dividend.com,  May 31, 2012, 10:10:34 AM EDT

Integrated circuits maker Analog Devices, Inc. ( ADI ) on Thursday saw its price target cut by analysts at Citigroup.

The firm maintained its "Buy" rating on ADI buy lowered its price target from $46 to $41. That new target suggests a 13% upside to the stock's Wednesday closing price of $36.15.

A Citigroup analyst commented, "ADI's F3Q-Jul sales outlook provided on 5/22 undershot our and the Street's prior expectation due to a decelerating industrial recovery. Contrasting AVGO's mid-teens guidance on Asia picking up, ADI's industrial should grow low-single digits reflecting macro uncertainty in Europe where ADI has meaningful exposure. Notably, GM expansion started to materialize with a 200bps bump in Apr-Q helped by favorable mix toward industrial and higher loading."

Shares of Analog Devices posted small losses in Thursday morning trading.

The Bottom Line
Shares of Analog Devices ( ADI ) have a 3.32% dividend yield, based on last night's closing stock price of $36.15. The stock has technical support in the $30-$32 price area. If the shares can firm up, we see overhead resistance around the $38-$41 price levels.

Analog Devices, Inc. ( ADI ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: ADI



Latest News Video

How to Pick Stocks in This Economic Environment
How to Pick Stocks in This Economic...
How To Grow Your Small Business
How To Grow Your Small Business     
Private Wealth Revives, Managers Face Higher Costs
Private Wealth Revives, Managers Fa...
Private Island on the Thames: $11.7 Million
Private Island on the Thames: $11.7...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.




Most Active by Volume:

Company Last Sale Change Net / %
S $ 7 0.32  4.37%
PFE $ 29.10 0.30  1.02%
BAC $ 13.19 0.08  0.60%
MU $ 13.97 0.22  1.60%
SIRI $ 3.37 0.03  0.88%
GE $ 23.98 0.35  1.44%
QQQ $ 72.76 0.82  1.11%
ELN $ 14.15 0.37  2.69%