Aug. 20 at 7:38 PM
JPMorgan reiterates overweight on Analog Devices
JPMorgan reiterated an overweight rating on Analog Devices
after the semiconductor company posted strong third-quarter earnings that suggested data center growth will outpace expectations.
“Broad-based strength drives another beat-and-raise; data center growth likely to outstrip current expectations,” Harlan Sur wrote in a Wednesday note. “Further pricing gains still on the come.”
In its third quarter, Analog Devices posted a beat on the top and bottom lines, with earnings of
$3.45 per share, excluding items, on revenue of
$4.02 billion. Analysts polled by FactSet were anticipating earnings of
$3.34 per share on revenue of
$3.92 billion.
$ADI