Key TakeawaysAnalog Devices beat third-quarter profit and sales estimates as it sees the slump in the chip sector ending.The company posted sequential gains in revenue from its Industrial, Consumer, and Communications units.CFO Richard Puccio said better customer inventory levels and gains in orders point to a recovery. Analog Devices (ADI) shares advanced in intraday trading Wednesday after the semiconductor maker posted better-than-expected results as it benefited from a rebound in the industry. The compa ...

Analog Devices (ADI) reported $2.31 billion in revenue for the quarter ended July 2024, representing a year-over-year decline of 24.8%. EPS of $1.58 for the same period compares to $2.49 a year ago.The reported revenue represents a surprise of +1.69% over the Zacks Consensus Estimate of $2.27 billion. With the consensus EPS estimate being $1.50, the EPS surprise was +5.33%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine t ...

Analog Devices (ADI) came out with quarterly earnings of $1.58 per share, beating the Zacks Consensus Estimate of $1.50 per share. This compares to earnings of $2.49 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.33%. A quarter ago, it was expected that this semiconductor maker would post earnings of $1.26 per share when it actually produced earnings of $1.40, delivering a surprise of 11.11%.Over the last four quarters, the ...

Financial Performance - Revenue for the three months ended August 3, 2024, was $2,312,209, a decrease of 25% compared to $3,076,495 for the same period in the prior year[61]. - Net income for the three months ended August 3, 2024, was $392,232, down 55% from $877,019 in the prior year[61]. - Diluted EPS for the three months ended August 3, 2024, was $0.79, a decrease of 55% from $1.74 in the same period last year[61]. - Revenue for the nine months ended August 3, 2024, was $6,983,952, a decrease of 27% compared to $9,589,055 for the same period in the prior year[62]. - Net income for the nine months ended August 3, 2024, was $1,157,201, down 59% from $2,816,149 in the prior year[62]. - Operating income decreased by $438.2 million (47%) in the three-month period and $1.7 billion (54%) in the nine-month period ended August 3, 2024, compared to the same periods in the prior fiscal year[79][80]. - Net income decreased by $484.8 million (55%) in the three-month period and $1.7 billion (59%) in the nine-month period ended August 3, 2024, compared to the same periods in the prior fiscal year[84][85]. Gross Margin and Expenses - Gross margin percentage decreased to 56.7% for the three months ended August 3, 2024, down from 63.8% in the prior year[73]. - Gross margin percentage for the nine months ended August 3, 2024, was 56.8%, down from 65.0% in the prior year[73]. - R&D expenses decreased by $61.1 million (14%) in the three-month period and $144.6 million (12%) in the nine-month period ended August 3, 2024, compared to the same periods in the prior fiscal year[74]. - SMG&A expenses decreased by $76.9 million (23%) in the three-month period and $193.2 million (20%) in the nine-month period ended August 3, 2024, compared to the same periods in the prior fiscal year[76]. - Amortization expenses decreased by $62.9 million (25%) in the three-month period and $189.9 million (25%) in the nine-month period ended August 3, 2024, compared to the same periods in the prior fiscal year[77]. - Nonoperating expenses increased by $13.7 million in the three-month period and $49.9 million in the nine-month period ended August 3, 2024, primarily due to higher foreign currency expenses[81]. - Special charges, net decreased by $11.3 million (48%) in the three-month period and $12.3 million (26%) in the nine-month period ended August 3, 2024, compared to the same periods in the prior fiscal year[78]. Liquidity and Capital Structure - The company reported total liquidity of $2.5 billion in cash, cash equivalents, and short-term investments as of August 3, 2024[86]. - Total debt outstanding as of August 3, 2024, was $8,164,520, with various notes maturing between 2024 and 2054[90]. - The company has $547.4 million of outstanding borrowings under its commercial paper program, with a maximum aggregate face amount of $2.5 billion[91]. - Capital expenditures for the first nine months of fiscal 2024 were $565.1 million, with expectations for total capital expenditures between $650 million and $750 million for the fiscal year[95]. - The company has authorized a stock repurchase program totaling $16.7 billion, with $1.7 billion remaining available for repurchase as of August 3, 2024[94]. Dividend and Shareholder Returns - A cash dividend of $0.92 per share was declared, totaling approximately $456.8 million, to be paid on September 17, 2024[95]. Accounts and Inventory - Accounts receivable decreased by $342,576, or 23%, to $1,127,158 as of August 3, 2024, compared to $1,469,734 at the end of fiscal 2023[89]. - Inventory decreased by $214,278, or 13%, to $1,427,936 as of August 3, 2024, from $1,642,214 previously[89]. Taxation - The effective income tax rate for the three-month period ended August 3, 2024, was 7.3%, and for the nine-month period, it was 8.2%, both below the U.S. statutory tax rate of 21%[82]. Demand and Revenue Sources - Revenue from the industrial segment for the three months ended August 3, 2024, was $1,058,704, a decline of 37% year-over-year[66]. - Revenue from distributors accounted for 58% of total revenue for the three months ended August 3, 2024, compared to 62% in the prior year[71]. - The company experienced a broad-based decline in demand for its products, contributing to the revenue decreases in both the three- and nine-month periods[68]. Cash Flow - Net cash provided by operating activities decreased to $2,801,712, representing 40% of revenue, down from $3,630,340 or 56% of revenue in the prior period[88]. Current Liabilities - Current liabilities increased to $3,226.6 million as of August 3, 2024, compared to $3,201.0 million at the end of fiscal 2023[88]. Debt Issuance - The company issued $550.0 million of senior unsecured notes due in 2034 and 2054, with fixed interest payments commencing in October 2024[96].

Exhibit 99.1 Analog Devices Reports Fiscal Third Quarter 2024 Financial Results • Revenue of $2.31 billion, above the midpoint of our outlook with sequential growth in Industrial, Consumer, and Communications • Operating cash flow of $4.0 billion and free cash flow of $2.9 billion on a trailing twelve-month basis • Returned $574 million to shareholders through dividends and repurchases in the third quarter WILMINGTON, Mass.--August 21, 2024--Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, ...

Revenue of $2.31 billion, above the midpoint of our outlook with sequential growth in Industrial, Consumer, and CommunicationsOperating cash flow of $4.0 billion and free cash flow of $2.9 billion on a trailing twelve-month basisReturned $574 million to shareholders through dividends and repurchases in the third quarterWILMINGTON, Mass., Aug. 21, 2024 /PRNewswire/ -- Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced financial results for its fiscal third quarter 2024, which ...

Analog Devices, Inc. (ADI) is scheduled to report third-quarter fiscal 2024 results on Aug 21.ADI expects revenues of $2.27 billion (+/- $100 million). The Zacks Consensus Estimate is pegged at $2.27 billion, indicating a decline of 26.1% from the year-ago quarter’s figure.Analog Devices anticipates adjusted earnings per share of $1.50 (+/- $0.10). The consensus mark for earnings is pinned at $1.50 per share, indicating a 39.8% fall from the prior-year quarter’s figure. The estimate has remained unchanged o ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about Analog Devices (ADI) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Analog Devices currently has an average brokerage recommen ...

Wall Street analysts expect Analog Devices (ADI) to post quarterly earnings of $1.50 per share in its upcoming report, which indicates a year-over-year decline of 39.8%. Revenues are expected to be $2.27 billion, down 26.1% from the year-ago quarter.The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior to a company's ...

Analog Devices (ADI) closed the most recent trading day at $215.32, moving -1.23% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.38%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 0.03%.Shares of the semiconductor maker witnessed a loss of 10.41% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 7.5% and the S&P 500's loss of 3.2%.The investment community will be paying cl ...