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Technology Stocks : ADI: The SHARCs are circling!
ADI 310.88-2.5%Jan 30 9:30 AM EST
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To: BostonView who wrote (1821)7/12/2000 10:49:56 AM
From: Scrapps  Read Replies (1) of 2882
 
RESEARCH ALERT - Analog Devices started
NEW YORK, July 12 (Reuters) - UBS Warburg said analyst Gregory Mischou on Wednesday began coverage of semiconductor maker Analog Devices Inc. (NYSE: ADI) with a buy rating and $100 price target.

-- Analog Devices makes integrated circuits for the communications, personal computer/consumer appliance and industrial markets, as well as digital signal processors for communications and industrial applications, and radio frequency chips for wireless handsets. It had 1999 sales of $1.45 billion, representing 18 percent growth over the previous year's sales.

-- Mischou said Analog Devices recently reported its fiscal second-quarter 2000 revenues grew 18.5 percent versus the previous quarter on strong demand for its communications products and the uptake of more digital signal processors and high-performance analog components in industrial applications.

-- He said that the company expects its exposure to the communications markets to increase to 50 percent by the end of fiscal 2000 from 40 percent last year.

-- Mischou's price target of $100, which is the stock's 52-week high on the New York Stock Exchange, represents about a 33 percent potential upside from the current stock price of 74-13/16 as of Tuesday.
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