Analog Devices (ADI) stock price slips after upbeat outlook; analysts lift targets to $400
Analog Devices shares fell 0.7% to $343.84 Thursday, reversing some of Wednesday’s post-earnings surge. The company forecast second-quarter revenue above Wall Street estimates and raised its dividend 11%. Chip stocks broadly declined, with Texas Instruments and Microchip Technology both down more than 2%. Wall Street analysts raised price targets, with Needham upgrading ADI to “buy.”