Analog Devices (ADI +0.6%) receives an upgrade to Buy from Sterne Agee's Vijay Rakesh. Rakesh thinks distributor inventories are bottoming, and expects orders from industrial and telecom customers to start rebounding soon. He also likes the firm's management and 2.8% dividend yield. Other chipmakers with industrial/telecom exposure: FSL, LLTC, MXIM, MSCC, MCHP. (FQ4 report)
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