"We believe Analog Devices continues to be under-modeled for the second half of 2015 and 2016 with multiple company specific product drivers specifically emerging revenue synergies from its 2014 acquisition of Hittite (HITT), " analysts at Credit Suisse said.
Other product drivers include a bottoming of base-station building in C2Q (Core 2 Quad) as well as good leverage to continued build out of small cell or heterogeneous networks, Credit Suisse noted.
Additionally, the firm raised the price target of Analog Devices regarding the proliferation of force-touch applications across multiple product lines, including Apple's (AAPL) Watch, iPhone 6s and iPad.
Analog Devices, an electronic equipment company, is engaged in the design, manufacture and marketing of high-performance analog, mixed-signal and digital signal processing integrated circuits.
Shares of Analog Devices are down 0.18% to $66.14 in morning trading Monday.
Separately, TheStreet Ratings team rates ANALOG DEVICES as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ANALOG DEVICES (ADI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and solid stock price performance. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity."