12:22 PM EDT, 08/16/2024 (MT Newswires) -- Analog Devices ( ADI ) is likely to deliver in-line or better fiscal Q3 results and fiscal Q4 outlook, with expected growth across all segments and geographies in both quarters, Oppenheimer said in a note emailed Friday.

Oppenheimer estimates Q3 earnings of $1.60 per share on net sales of $2.27 billion.

The chipmaker said it will release its Q3 financial results on Wednesday.

Analog Devices' ( ADI ) diversification and core positioning in automotive and industrial sectors are strong, with stable pricing, new design wins and Maxim Integrated revenue synergies supporting long-term growth, Oppenheimer said.

"Broadly positive book-to-bill signals an improving H2 outlook for core auto and industrial segments," Oppenheimer said.

The company has risen 13% year-to-date, slightly lagging behind the broader semiconductor index, which is up 24%, according to the note.

Oppenheimer maintains an outperform rating and a $245 price target on the company's stock.

Price: 221.98, Change: -1.69, Percent Change: -0.76