Micron remains top semi pick at Citi after October industry sales top estimates [Seeking Alpha]
Analog Devices, Inc. (ADI)
Last analog devices, inc. earnings: 2/19 08:00 am
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US:NASDAQ Investor Relations:
investor.analog.com/investor-relations
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Source: Seeking Alpha
According to the Semiconductor Industry Association, October monthly sales came in at $46.4B, down 6.3% month-over-month, but above Citi's estimate of $44.9B and above seasonality of down 8.3% on higher flash sales. As a result, Citi analyst Christopher Danely raised his estimate on 2023 semiconductor sales to down 10% year-over-year from down 11%, or $517.3B. Danely said that while unit growth ex-discretes was below seasonality, at down 16.1% month-over-month, pricing was above seasonality, up 12.9% month-over-month, due in part to analog and dynamic random access memory pricing. "DRAM pricing has started to rebound in [second-half of 2023] as DRAM production cuts start materializing," Danely wrote in an investor note. "As such, Micron is our top pick." Danely also raised his 2024 sales estimates for the semiconductor industry to up 7% year-over-year, or $555.9B, compared to a previous view of up 5%. "With units declining 20% in 2023, this would be the worst year since 200
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- Analog Devices (NASDAQ:ADI) had its price target raised by analysts at Truist Financial Corporation from $258.00 to $291.00. They now have a "hold" rating on the stock.MarketBeat
ADI
Earnings
- 11/25/25 - Beat
ADI
Sec Filings
- 12/18/25 - Form 4
- 12/18/25 - Form 4
- 12/17/25 - Form 144
- ADI's page on the SEC website