Three brokerages raise targets on Analog Devices

Three brokerages raised their price targets on Analog Devices Inc (ADI.N), and said gross margins for the chipmaker are poised to expand in the coming quarters.

On Tuesday, Analog Devices reported better-than-expected quarterly results and forecast a strong fourth quarter, but saw its shares dip in trading after the bell as third-quarter gross margins fell short of estimates. [ID:nN18438616]

However, the company, which competes with Broadcom Corp (BRCM.O), Texas Instruments Inc (TXN.N) and STMicroelectronics NV (STM.PA), forecast a slight improvement in gross margins in the current quarter.

Read Full Article from Reuters

- Posted: 2009-08-19 10:06:17

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