Targets: ADI, $130; MCHP, $110; NXPI, $130.
Analyst Weston Twigg: "For the first time in several quarters, we are not seeing demand trends getting worse."
Twigg says inventory levels are returning to normal levels, "driving seemingly normal behavior into a seasonally stronger" H2.
Trade and tariff uncertainties continue to weigh heavily on the sector, and Twigg notes it's unclear if the seasonal demand momentum will continue into H1 2020.
ADI shares are up 3.7% pre-market to $115.87. MCHP is up 1.6% to $94.41. NXPI shares are up 2% to $111.33.
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