Baird noted Analog Devices lowered its guidance on weak consumer revenues, but the firm expects a second half rebound. Baird cited Analog's easier second half comps, fundamentals that remains strong and its strong positioning in ADAS and self driving automotive systems. Baird reiterated its Outperform rating and lowered its price target to $60 from $68 on Analog Devices shares.

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.

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