Analog Devices’ Investor Day Takeaways 
<p>Analysts at Oppenheimer provided their key takeaways from <a href='https://financialmodelingprep.com/financial-summary/ADI'>Analog Devices, Inc’s (NASDAQ:ADI) </a>Investor Day. According to the analysts, management’s tone was bullish, as it raised the long-term revenue growth target (midpoint of 5-year CAGR) to 8.5%. Management sees Q2 sales at/above the high end of the original guidance of $2.7 billion - $2.9 billion.</p>
<p>ADI/MXIM cost synergies increased to $400 million (from $275 million). Management sees over $1 billion revenue synergies beginning to materialize in 2024. </p>
<p>While the company did not fully update guidance for the April quarter, it did say it expects revenues to be near or above the high-end of guidance. </p>
<p>Following the Investor Day, the analysts raised their 2022/2023 EPS from $8.97/$9.85 to $9.11/$10.10 and maintained their Outperform rating with a $210 price target.</p>

NASDAQ:ADI