Sterne Agee Gets Bullish on Chipmakers (ADI, TXN)

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Analysts at Sterne Agee on Monday showed some bullish sentiment in the microchip sector, upgrading both Analog Devices, Inc. ( ADI ) and Texas Instruments Incorporated ( TNX ) to "Buy."

The firm set a $45 price target on ADI, which implies a 20% upside to the stock's Friday closing price of $37.63. Sterne noted the company is well-positioned for a recovery in industrial and communications demand.

Meanwhile, Sterne set a $40 price target on TXN, which represents an expected 22% upside to the stock's Friday closing price of $32.82. The firm noted the company is gaining market share and raising its capacity.

Both Texas Instruments and Analog Devices shares posted modest gains in premarket trading Monday.

The Bottom Line
Shares of Analog Devices ( ADI ) have a 2.34% dividend yield, based on Friday's closing stock price of $37.63.
Shares of Texas Instruments ( TXN ) have a 1.58% dividend yield, based on Friday's closing stock price of $32.82.

Analog Devices, Inc. ( ADI ) and Texas Instruments Incorporated ( TNX ) are both rated "Neutral," holding Dividend.com DARS™ Ratings of 3.4 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.

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This article appears in: Investing , Stocks

Referenced Stocks: ADI , TXN

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