Analog Devices (ADI) has moved up 10.3% in the year-to-date period compared with the industry’s return of 3.9%. ADI is benefiting from its portfolio strength and strategic partnerships, which are driving its momentum across various end-markets like industrial, automotive, consumer and communications. Its efforts to integrate AI technology into products to deliver enhanced customer experience are a plus. Expanding Partnerships Drives ADI Stock’s ProspectsAnalog Devices recently announced a strategic partners ...

Analog Devices, Inc. (NASDAQ:ADI) Citi's 2024 Global TMT Conference September 4, 2024 1:20 PM ET Company Participants Mike Lucarelli - VP of Finance, IR, FP&A Conference Call Participants Chris Danely - Citi Chris Danely Everyone, I'm Chris Danely, your friendly neighborhood semiconductor analyst here. It's our pleasure next to have one of our topics, Analog Devices. The normally scheduled program of Vivek, the VP of Ops, is not here today. So being as it's baseball season, we've got the best pinch hitter i ...

Analog Devices, Inc. (NASDAQ:ADI) Citi's 2024 Global TMT Conference September 4, 2024 1:20 PM ET Company Participants Mike Lucarelli - VP of Finance, IR, FP&A Conference Call Participants Chris Danely - Citi Chris Danely Everyone, I'm Chris Danely, your friendly neighborhood semiconductor analyst here. It's our pleasure next to have one of our topics, Analog Devices. The normally scheduled program of Vivek, the VP of Ops, is not here today. So being as it's baseball season, we've got the best pinch hitter i ...

This analog/mixed signal semiconductor market as a whole should continue to strengthen through year-end, as inventories in the computing and smartphone markets (two of the biggest chip consumers) were worked down in second-half 2023 and industrial inventories were worked down in the first half of 2024.The World Semiconductor Trade Statistics (WSTS), which supplies data to the Semiconductor Industry Association (SIA), is projecting double-digit growth in semiconductors this year on the back of a 76.8% jump i ...

Investment Rating - The report does not explicitly mention an investment rating for Analog Devices, Inc (ADI) [1][2][3] Core Views - ADI's FY2024Q3 revenue of $2.312 billion exceeded the guidance midpoint of $2.27 billion, indicating a recovery from the cyclical trough [1][4] - Adjusted gross margin was 67.9%, up 1.2 percentage points quarter-over-quarter (QoQ) but down 4.3 percentage points year-over-year (YoY) [1][4] - Net income was $392 million, up 29.8% QoQ but down 55.3% YoY, with a net profit margin of 16.96% [1][4] - Adjusted EPS was $1.58, up 12.9% QoQ but down 37% YoY [1][4] Revenue Breakdown by End Market - Industrial market revenue was $1.059 billion (46% of total revenue), up 4.32% QoQ but down 37% YoY [1][7] - Automotive market revenue was $670 million (29% of total revenue), up 1.83% QoQ but down 8% YoY [1][7] - Communications market revenue was $267 million (12% of total revenue), up 10.72% QoQ but down 26% YoY [1][7] - Consumer market revenue was $317 million (14% of total revenue), up 29.13% QoQ and up 3% YoY, marking the first YoY growth since 2022 [1][7] Capital Expenditures and Inventory - FY2024Q3 capital expenditures were $154 million, with full-year 2024 capex expected to be around $700 million [1][6] - Inventory at the end of FY2024Q3 was $1.428 billion, down $51 million QoQ, with inventory turnover days decreasing from 192 to 178 days [1][6] FY2024Q4 Guidance - ADI expects FY2024Q4 revenue to be between $2.3 billion and $2.5 billion (QoQ -0.52% to +8.1%, YoY -15.3% to -8%) [1][10] - Adjusted EPS is expected to be between $1.53 and $1.73 (QoQ -3.2% to +9.5%, YoY -23.9% to -13.9%) [1][10] - Industrial and consumer businesses are expected to grow, while automotive business is expected to decline [1][10] Management Commentary - ADI's management believes the company has passed the cyclical trough, with improving customer inventory levels and order trends in most markets [13][16] - The industrial market, ADI's largest and most diversified segment, is expected to see continued growth, particularly in automation and energy efficiency [13][14] - The automotive market is facing challenges due to production cuts and extended inventory digestion periods, but ADI remains optimistic about long-term growth in electrification and software-defined vehicles [16][19] Key Takeaways from Earnings Call - ADI's channel inventory is near the lower end of the target range (7-8 weeks), and the company is prepared for expected demand growth in 2025 [18][23] - Industrial and consumer markets are expected to drive growth, while automotive market recovery may be slower [25][27] - ADI's pricing environment remains stable, with no significant pressure on gross margins [31]

J Studios Investment action I recommended a buy rating for Analog Devices (NASDAQ:ADI) when I wrote about it in May, as I gained more confidence that the bottom of the cycle was over and a recovery cycle is likely to happen in FY24. Based on my current outlook and analysis, I recommend a buy rating. My key update to my thesis is that ADI has effectively entered into a growth cycle, as 3Q24 saw its first sequential growth. While the automotive segment still sees some weakness, I believe it will turn for ...

Analog Devices TodayADIAnalog Devices$221.91 -5.59 (-2.46%) 52-Week Range$154.99▼$244.14Dividend Yield1.66%P/E Ratio51.85Price Target$245.64Add to WatchlistAnalog Devices NASDAQ: ADI is not out of the weeds, and it will take time to recover fully, but the bottom is in for the semiconductor business, and the rebound is underway. The takeaway from the FQ3 results is that sequential growth persists, and improving client inventory and order volumes point to YoY growth resuming by FQ1 2025. This means investors ...

Analog Devices, Inc. ADI posted better-than-expected third-quarter financial results on Wednesday.The company's revenue declined 25% year-on-year to $2.31 billion, beating the analyst consensus estimate of $2.27 billion. Adjusted EPS of $1.58 beat the analyst consensus estimate of $1.50."Improved customer inventory levels and order momentum across most of our markets position us to grow again sequentially in our fourth quarter, increasing our confidence that we are past the trough of this cycle. However, ec ...

draganab/E+ via Getty Images Analog Devices (NASDAQ:ADI) reported its third quarter FY24, sending shares higher after management announced a beat on top and bottom lines with sequential growth after four quarters of sequential sales decline. The company reported sales up roughly 7% Q/Q and down 25% Y/Y to $2.31B versus estimates of $2.27B and adjusted EPS of $1.58, ahead of estimates of $1.50. The real surprise was from management's outlook for Q4; the company expects sales of $2.40B, +/- $100M, for 4% ...

Why did Analog Devices' shares spike and then settle on Wednesday morning?Shares of Analog Devices (ADI 2.92%) jumped as much as 6% higher on Wednesday morning. The maker of high-performance analog and mixed-signal chips peaked at 10:20 a.m. ET and backed down to a 2.2% gain in the afternoon. The stock jumped as Analog Devices reported analyst-stumping third-quarter results and in-line guidance for the next quarter. It backed down when management provided cautious market analysis on the earnings call.Third- ...