As previously reported, Stephens analyst Harsh Kumar upgraded Analog Devices (ADI) to Overweight from Equal Weight based on his new estimates that reflect the recent merger with Linear Technology (LLTC) as well as the recent pullback in the stock. The analyst also raised his price target on the shares to $90 from $85, saying that growth in EPS as well as upside to free cash flow, gross and operating margins, and the potential for cross-sells from the recently closed acquisition can drive the stock to his price target.

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.

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