Argus analyst Jim Kelleher raised his price target on Analog Devices (ADI) to $110, saying the stock price was pressured despite the Q1 earnings beat and a 7% hike in dividend. Kelleher adds that any weakness should be seen as a buying opportunity, with the stock trading at an attractive valuation. Longer term, the analyst keeps his Buy rating, stating that Analog Devices is benefiting from multiple positives, including "strong global demand for analog chips, rising analog applications and content in the industrial and automotive end markets and (being) a top consumer customer in Apple (AAPL)".

BofA raised the firm's price target on Texas Instruments (TXN) to $190 from $175 and keeps a Neutral rating on the shares. TI's small Q1 beat and inline but sequentially rising Q2 sales guidance, "while modest, potentially marks a recovery inflection in industrial chip demand," with positive read-across for U.S. peers such as Analog Devices (ADI), Microchip (MCHP), NXP Semiconductors (NXPI) and On Semiconductor (ON), the analyst tells investors. However, despite an expected recovery, TI's sustained high capex intensity could keep reported calendar year 2024-26 pro-forma EPS below $6 per share, the analyst added.

Apple saw sales of its iPhones fall 19.1% in the first three months of the year, CNBC's Ryan Browne reports, citing data from Counterpoint Research. Meanwhile, Huawei saw a 69.7% surge in smartphone sales in the country during the same period, Counterpoint said. Reference Link

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here