Technology

The following is a summary of the Analog Devices, Inc. (ADI) Q1 2024 Earnings Call Transcript: Financial Performance: Analog Devices reported Q1 revenue of over $2.5 billion, an 8% sequential decrease and a 23% YoY decline. Gross margins dropped from 74% to 67%, mainly due to increased inventory charges and weak demand across all regions. Nevertheless, there is a potential gross margin upturn linked to revenue pickup in the industrial sector. Operating margins stood at 42% and earnings per share at $1.73, exceeding their outlook. The company returned over $4.2 billion to shareholders via dividends and share repurchases, announcing a 7% dividend increase, marking the 20th consecutive year of dividend growth. Q2 revenue is expected to be $2.1 billion, with a projected operating margin of 37% and EPS of $1.26. Business Progress: Despite weak demand in the industrial sector, ADI is taking steps to reduce channel inventory and align sell-in […]

Analog Devices Reports Fiscal First Quarter 2024 Financial Results — Revenue of more than $2.5 billion with continued growth in Automotive — Operating cash flow of $4.6 billion and free cash flow of $3.2 billion on a trailing twelve-month basis — Returned over $600 million to shareholders through dividends and repurchases in the first quarter — Raised quarterly dividend by 7%, marking the twentieth consecutive year of increase — Appointed Richard C. Puccio as EVP and Chief Financial Officer WILMINGTON, Mass.–(BUSINESS WIRE)–February 21, 2024– Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced financial results for its 14-week fiscal first quarter 2024, which ended February 3, 2024. “ADI delivered first quarter revenue and profitability above the midpoint of our outlook, despite the continued difficult macroeconomic environment,” said Vincent Roche, CEO and Chair. “Consistent with our prior view, we expect customer inventory rationalization to largely subside in our second

Analog Devices Sees Q2 Adj. EPS $1.16-$1.36 Vs $1.57 Est., Revenue $2B-$2.2B Vs $2.36B Est.

Analog Devices said it expects fiscal second-quarter earnings of $1.26 a share, plus or minus 10 cents. Analysts surveyed by FactSet were expecting earnings of $1.56. Revenue expectations of $2.1 billion, plus or minus $100 million, also missed the consensus call of $2.36 billion. For the first quarter ended Feb. 3, the company reported earnings of $1.73 a share on revenue of $2.51 billion. Analysts surveyed by FactSet were expecting Analog Devices to report earnings of $1.71 a share on revenue of $2.5 billion. In the same period the prior year, Analog Devices posted earnings of $2.75 a share on revenue of $3.25 billion. “ADI delivered first quarter revenue and profitability above the midpoint of our outlook, despite the continued difficult macroeconomic environment,” Chief Executive Vincent Roche said in the earnings release.

Analog Devices (ADI) reported fiscal Q1 adjusted earnings Wednesday of $1.73 per diluted share, down from $2.75 a year earlier. Analysts polled by Capital IQ expected $1.71. Revenue for the quarter ended Feb. 3 was $2.51 billion, down from $3.25 billion a year earlier. Analysts surveyed by Capital IQ expected $2.50 billion. The semiconductor company said it expects fiscal Q2 adjusted EPS in a range of $1.16 to $1.36 on revenue of $2 billion to $2.2 billion. Analysts polled by Capital IQ are expecting adjusted EPS of $1.57 on revenue of $2.36 billion. Shares of Analog Devices were down more than 1% in recent Wednesday premarket activity.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target at $193 on a P/E of 22x our CY 25 view of $8.69, above its five-year historical forward average of 20.5x given near bottoming fundamentals. We cut our FY 24 (Oct.) EPS to $6.39 from $7.80 and FY 25’s to $8.13 from $9.66. ADI posted Jan-Q EPS of $1.73 vs. $2.75, beating the $1.71 consensus. Sales fell 23%, better than feared, on declines across industrial (-31%), communications (-37%), and consumer (-22%), while automotive remains resilient (+9%). Although Apr-Q revenue/EPS guide is below expectations, we do expect it to mark the cyclical trough, barring macro pressures that could hit autos. Both gross (69% vs. 73.6%) and operating (42% vs. 51.1%) margins have compressed considerably on lower volume, but we like emphasis on shortening