Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Analog Devices Already Pricing In A Recovery

As a general rule, semiconductors are great second-chance stocks as the ups and downs of this surprising cyclical industry take the stocks on roller-coaster rides. Unfortunately for investors just coming back around to check on Analog Devices (NASDAQ:ADI), the market has already more than counted on a solid recovery at this leading analog chip company. Improving sell-side estimates and better-than-expected operating leverage could lead to more upside in this recovery cycle, but this isn't a fundamentally cheap stock anymore.

Tough Numbers, But Who Cares?

With semiconductor investors firmly focused on the 2013 recovery story, Analog Device's fiscal first quarter results are going to be an afterthought to many investors. Even so, I think there is plenty for more...

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