Investment Rating - The report indicates a positive outlook for Analog Devices, Inc. (ADI) with expectations of recovery in the industrial market and improved financial performance in the upcoming quarters [1][10]. Core Insights - ADI's FY2024Q2 revenue was $2.159 billion, slightly above the guidance midpoint of $2.1 billion, despite a year-over-year decline of 33.8% and a quarter-over-quarter decline of 14.1% [4][14]. - The adjusted gross margin for FY2024Q2 was 66.7%, reflecting a decrease from the previous year, while net profit was $302 million, down 69.1% year-over-year [4][14]. - The company anticipates a revenue range of $2.17 to $2.37 billion for FY2024Q3, indicating a potential recovery in the industrial market [10][15]. Summary by Sections 1. Overall Revenue Situation - For FY2024Q2, ADI achieved revenue of $2.159 billion, which is a 14.1% decrease quarter-over-quarter and a 33.8% decrease year-over-year, but slightly above the guidance midpoint of $2.1 billion [4][5]. - The adjusted gross margin was 66.7%, with a net profit of $302 million, resulting in a net profit margin of 14% [4][14]. 2. Revenue Breakdown by End Market - Industrial market revenue was $1.015 billion, accounting for 47% of total revenue, with a year-over-year decline of 44% [7][8]. - Automotive market revenue was $658 million, representing 30% of total revenue, with a year-over-year decline of 10% [7][8]. - Communication market revenue was $241 million, accounting for 11% of total revenue, with a year-over-year decline of 45% [7][8]. - Consumer market revenue was $245 million, also 11% of total revenue, with a year-over-year decline of 9% [7][8]. 3. Company Performance Guidance - For FY2024Q3, ADI expects revenue between $2.17 billion and $2.37 billion, with adjusted EPS projected to be between $1.40 and $1.60 [10][15]. - The company anticipates a recovery in the industrial market and plans to continue reducing channel inventory, which is expected to enhance profitability [10][15]. 4. Capital Expenditure and Inventory - Capital expenditure for FY2024Q2 was $188 million, with an expected total of $700 million for the fiscal year [6]. - Inventory at the end of FY2024Q2 decreased by approximately $74 million, with inventory turnover days dropping from 201 to 192 days [6][14].

LG Energy Solution signs MoU with Analog Devices, Inc. (ADI), a global semiconductor leader with Innovative Intelligence at the Edge technologies in the field of battery management.The companies are working towards co-development of a technology that will enable precise measurement of battery cells' internal temperature. This has potential to enhance safety and charging speed, thus further advancing the clean energy ecosystem.LG Energy Solution aims to provide differentiated customer value through its advan ...

Analog Devices, Inc. (NASDAQ:ADI) Bernstein 40th Annual Strategic Decisions Conference May 29, 2024 10:00 AM ET Company Participants Michael Lucarelli - VP, IR & FP&A Richard Puccio - Executive VP & CFO Conference Call Participants Stacy Rasgon - Bernstein Stacy Rasgon I guess, we'll get started. Good morning, everyone. Thank you for coming. I'm Stacy Rasgon. I cover the U.S. semiconductor sector here at Bernstein. And it's my honor today to introduce our guests, Rich Puccio, the CFO of Analog Devices; and ...

Certain technology companies get all the attention and generate all the media headlines. This fact leaves many companies lurking in the shadows and off the radar screens of investors. This is a sorry state of affairs as it means that investors are missing out on great stocks, a lot of which can be purchased now at bargain prices even as they begin to rise again and post solid returns.Little-known stocks in the semiconductor, e-commerce, financial technology and cryptocurrency sectors are flying out of most ...

WILMINGTON, Mass., May 23, 2024 /PRNewswire/ -- Analog Devices, Inc. (Nasdaq: ADI) today announced that the Company's Executive Vice President & Chief Financial Officer, Richard Puccio, will discuss business topics and trends at the Bernstein 40th Annual Strategic Decisions Conference taking place at the New York Hilton Midtown Hotel, located in New York, New York, on Wednesday, May 29, 2024, at 10:00 a.m. EST.The webcast for the conference may be accessed live via the Investor Relations section of Analog D ...

Key PointsAnalog Devices has a better-than-feared quarter and indicates the start of a cyclical recovery. Cash flow and capital returns are robust and will continue this year. Analysts are leading this market to new highs: a 10% to 20% upside is still possible. 5 stocks we like better than Analog DevicesAnalog Devices NASDAQ: ADI share prices are surging because a trough is in place, and the outlook is robust. The FQ2 results and guidance for FQ3 aren't robust but show markets stronger than expected, and AI ...

Analog Devices, Inc. (NASDAQ:ADI) Q2 2024 Results Conference Call May 22, 2024 10:00 AM ET Company Participants Michael Lucarelli - VP, IR and FP&A Vincent Roche - CEO & Chairman Richard Puccio - CFO Conference Call Participants Tore Svanberg - Stifel Stacy Rasgon - Bernstein Research Toshiya Hari - Goldman Sachs Vivek Arya - Bank of America Securities Christopher Danley - Citigroup Ross Seymore - Deutsche Bank Mark Lipacis - Evercore ISI Harlan Sur - JPMorgan Joseph Moore - Morgan Stanley Operator Good mor ...

Analog Devices Inc. (ADI) has reported second-quarter fiscal 2024 adjusted earnings of $1.40 per share, which surpassed the Zacks Consensus Estimate by 11.1%. The bottom line declined 51% from the year-ago quarter.Revenues of $2.16 billion beat the Zacks Consensus Estimate of $2.10 billion. The top line fell 34% from the year-ago quarter.Softness in the communications, consumer, automotive and industrial end-markets was a major negative.Revenues by End MarketsIndustrial: The market generated revenues of $1. ...

Key TakeawaysAnalog Devices beat profit and sales estimates as the semiconductor manufacturer sees a "cyclical recovery" ahead.The company also posted current-quarter guidance that exceeded forecasts.Analog Devices said customer inventories are stabilizing, and new orders are rising. Analog Devices (ADI) shares soared to a record high Wednesday after the semiconductor maker posted better-than-expected results and guidance as inventory backlogs eased. The company reported fiscal second-quarter adjusted earni ...

For the quarter ended April 2024, Analog Devices (ADI) reported revenue of $2.16 billion, down 33.8% over the same period last year. EPS came in at $1.40, compared to $2.83 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.1 billion, representing a surprise of +2.60%. The company delivered an EPS surprise of +11.11%, with the consensus EPS estimate being $1.26.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...