Analysts Just Trimmed Price Targets for These 5 Stocks

In this article, we discuss the 5 stocks receiving price-target cut from analysts. If you want to see more such stocks on the list, go directly to Analysts Just Trimmed Price Targets for These 10 Stocks.

05. Analog Devices, Inc. (NASDAQ:ADI)

Price Reaction after the Price Target Cut: -3.79 (-2.14%)

On August 24, Morgan Stanley revised its price target for Analog Devices, Inc. (NASDAQ:ADI), a significant player in the semiconductor industry. The previous price target, set at $195, has been adjusted downwards to $185, signaling a decrease. Correspondingly, the current market price of Analog Devices, Inc. (NASDAQ:ADI) is at $173.69, indicating a decline of approximately -2.1%. Notably, Morgan Stanley has maintained its Equal Weight rating for the company, indicating a consistent view of Analog Devices, Inc. (NASDAQ:ADI) performance relative to its peers. This comprehensive evaluation by Morgan Stanley offers valuable insights for investors and stakeholders, aiding them in making informed decisions in light of both the adjusted price target and the sustained Equal Weight rating, considering Analog Devices, Inc. (NASDAQ:ADI) standing within the broader semiconductor landscape.

Madison Investors Fund made the following comment about Analog Devices, Inc. (NASDAQ:ADI) in its second quarter 2023 investor letter:

“The bottom five individual contributors for the quarter were U.S. Bancorp, Progressive, Analog Devices, Inc. (NASDAQ:ADI), Dollar Tree, and Danaher. Analog Devices and Danaher are both seeing end market demand moderate (in semiconductor and medical research, respectively) compared to the artificially high levels they experienced for two years due to the post-Covid chaos in supply chains. Despite these near-term dynamics, we think the longer-term outlooks remain excellent in both cases.”