a modest beat-and-raise quarter. In response, he maintained a Buy rating on the stock. In addition, the five-star analyst kept the price target at $540, suggesting 16% upside potential.s CEO Hock Tan is optimistic about the robust booking trends "despite a flattening in the company's lead-time trends." Expounding on this, Rolland stated, "In other words, he does not believe that over-ordering is a major concern for the company.
"Storage trends appear about in-line with our prior estimate, but management suggested an improving demand trajectory . Industrial also appears in-line, driven by a recovery in auto and China, and may sustain as channel inventories remain depleted," Rolland said. This prompted the analyst to reiterate a Buy rating and $190 price target, which brings the upside potential to 15%.
Based on data from TipRanks, Biegelsen is tracking a 69% success rate and 21.3% average return per rating.revealed that it has submitted a proposal to acquire Altium, which provides printed circuit board software, for AUD $38.50 per share. This would reflect a 47% premium to the one-month volume-weighted average price and suggest a total consideration of $3.8 billion.
Hedberg also points to the increase in horizontal opportunities as Altium shifts to the cloud and leverage through one cloud data repository as other potential synergies.
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