Analog Devices (ADI) Q3 Earnings and Revenues Top Estimates

Core Insights - Analog Devices (ADI) reported quarterly earnings of $1.58 per share, exceeding the Zacks Consensus Estimate of $1.50 per share, but down from $2.49 per share a year ago, indicating a 36.6% year-over-year decline [1] - The company achieved revenues of $2.31 billion for the quarter ended July 2024, surpassing the Zacks Consensus Estimate by 1.69%, but down from $3.08 billion in the same quarter last year, reflecting a 25% decrease [1] - The stock has seen a price increase of approximately 12.6% since the beginning of the year, compared to a 17.3% gain in the S&P 500 [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.60, with expected revenues of $2.36 billion, while the estimate for the current fiscal year is $6.24 on $9.3 billion in revenues [4] - The trend of estimate revisions for Analog Devices has been unfavorable, resulting in a Zacks Rank of 4 (Sell), suggesting expected underperformance in the near future [4] Industry Context - The Semiconductor - Analog and Mixed industry is currently ranked in the bottom 10% of over 250 Zacks industries, indicating potential challenges for stocks within this sector [5] - Another company in the same industry, Semtech (SMTC), is expected to report quarterly earnings of $0.10 per share, reflecting a year-over-year decline of 9.1%, with revenues anticipated to be $212.42 million, down 10.9% from the previous year [5][6]