Analog Devices Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Analog Devices, Inc. ADI is expected to release earnings results for its first quarter, before the opening bell on Feb. 21, 2024.

Analysts expect the Wilmington, Massachusetts-based company to report quarterly earnings at $1.71 per share, down from year-ago earnings of $2.75 per share. Analog Devices is projected to report quarterly revenue of $2.50 billion, according to data from Benzinga Pro.

Analog Devices recently appointed Richard C. Puccio, Jr. as Executive Vice President and Chief Financial Officer.

Analog Devices shares rose 0.6% to close at $189.40 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Cantor Fitzgerald analyst C J Muse reiterated a Neutral rating with a price target of $205 on Feb. 20, 2024. This analyst has an accuracy rate of 78%.
• Oppenheimer analyst Rick Schafer reiterated an Outperform rating with a price target of $215 on Nov. 22, 2023. This analyst has an accuracy rate of 78%.
• Piper Sandler analyst Harsh Kumar maintained a Neutral rating and cut the price target from $190 to $175 on Nov. 22, 2023. This analyst has an accuracy rate of 84%.
• Susquehanna analyst Christopher Rolland maintained a Positive rating and slashed the price target from $215 to $210 on Nov. 22, 2023. This analyst has an accuracy rate of 79%.
• UBS analyst Timothy Arcuri maintained a Buy rating and increased the price target from $200 to $210 on Nov. 22, 2023. This analyst has an accuracy rate of 77%.

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