Company Reports

Analog Devices reported fiscal third-quarter revenue of $4.02 billion, up 40% year over year and above the high end of guidance. ADI expects October-quarter revenue of $4.3 billion, up 40% year over year and above FactSet consensus estimates of $4.08 billion.

Analog Devices is one of the world's largest analog and mixed-signal chipmakers and has an especially strong position in analog signal processing chips. We think it is well positioned to profit from more advanced and higher-priced semiconductor content in automobiles, data centers, and industrial applications like medical devices and factory automation equipment in the years ahead.

Analog Devices reported fiscal second-quarter revenue of $3.62 billion, up 37% year over year and above the high end of its guidance range. ADI expects third-quarter revenue of $3.9 billion, which would represent 35% growth and is ahead of FactSet consensus estimates of $3.61 billion.

Analog Devices is one of the world's largest analog and mixed-signal chipmakers and has an especially strong position in analog signal processing chips. We think it is well positioned to profit from more advanced and higher-priced semiconductor content in automobiles, data centers, and industrial applications like medical devices and factory automation equipment in the years ahead.

Analog Devices’ fiscal first-quarter revenue was $3.16 billion, up 30% year over year and toward the high end of guidance. They expect April-quarter revenue of $3.5 billion, which would be up 33% year over year and ahead of typical seasonal patterns and FactSet's consensus estimate of $3.24 billion.

Analog Devices is one of the world's largest analog and mixed-signal chipmakers and has an especially strong position in analog signal processing chips. We think it is well-positioned to profit from more advanced and higher-priced semiconductor content in automobiles, data centers, and industrial applications like medical devices and factory automation equipment in the years ahead.

Analog Devices reported fiscal fourth-quarter revenue of $3.08 billion, up 7% sequentially and 26% year over year and ahead of guidance. ADI’s January-quarter revenue forecast of $3.1 billion would be up 28% year over year, ahead of seasonal patterns and above FactSet Consensus estimates.

Analog Devices reported fiscal third-quarter revenue of $2.88 billion, up 9% sequentially, up 25% year over year and above the high end of guidance. Its outlook for the October quarter calls for $3 billion in revenue, up 23% year over year and ahead of FactSet consensus estimates.

Analog Devices' fiscal second-quarter revenue of $2.64 billion grew 9% sequentially and was above the high end of guidance, with 10%-plus growth across all end markets. ADI's fiscal third-quarter revenue forecast of $2.75 billion was ahead of FactSet consensus estimates.

Analog Devices is one of the world's largest analog and mixed-signal chipmakers and has an especially strong position in analog signal processing chips. We think it is well positioned to profit from more-advanced and higher-priced semiconductor content in automobiles, communications equipment, and industrial applications like medical devices and factory automation equipment in the years ahead.

We maintain our $245 fair value estimate and wide moat rating for Analog Devices, along with maintaining our ratings across the rest of our US and European analog/mixed signal chipmaker coverage. This is amid a host of tariffs levied by the US government, with our greatest concern stemming around the 25% tariffs on the automotive sector.

Wide-moat Analog Devices reported solid fiscal first-quarter results and provided an upbeat outlook for the second quarter as the business is returning to year-over-year growth after a severe cyclical downturn that led to a 23% revenue decline in fiscal 2024. We’re encouraged by the anticipated rebound in industrial and automotive chip demand and think it bodes well for strong growth, albeit on easy comparisons, for ADI (and perhaps its peers) in the near term. We've raised our fair value estimate to $245 per share from $225.

Analog Devices is one of the world's largest analog and mixed-signal chipmakers and has an especially strong position in analog signal processing chips. We think it is well positioned to profit from more-advanced and higher-priced semiconductor content in automobiles, communications equipment, and industrial applications like medical devices and factory automation equipment in the years ahead.

Wide-moat Analog Devices reported solid fiscal fourth-quarter results with nice sequential revenue growth. Although the company provided investors with a modest forecast for the January 2025 quarter, we are encouraged by management’s comments that align with our expectations for year-over-year growth in its fiscal second quarter (ending April 2025). We maintain our $225 per share fair value estimate, and shares appear fairly valued to us.

Wide-moat Analog Devices reported solid fiscal third-quarter results and provided investors with an outlook for the fourth quarter that was in line with our expectations and suggests a sequential recovery in industrial chip demand. We maintain our $225 fair value estimate and view the shares as fairly valued. We continue to view ADI as a leader in analog semis that should benefit from increasing chip content in auto and industrial applications in the coming years.

Analog Devices is one of the world's largest analog chipmakers, with an especially strong position in analog signal processing chips. We think it is well-positioned to profit from more advanced and higher-priced semiconductor content in automobiles, communications equipment, and industrial applications like medical devices and factory automation and testing equipment in the years ahead.

Wide-moat Analog Devices reported fiscal second-quarter results that were admirable amid the current chip industry downturn and came in ahead of guidance. Further, ADI's forecast for the July quarter calls for growth and suggests that the bottom is in sight for the business. We raise our fair value estimate to $225 from $196 as we boost our long-term profitability assumptions for the firm. Shares were up as much as 8% after the earnings report, and we view the stock as fairly valued.

Wide-moat Analog Devices reported fiscal first-quarter results and provided investors with an outlook for the April quarter that came in predictably soft and comparable with peers, as many of ADI's customers are correcting their own chip inventory levels. ADI's guidance for the April quarter was modestly worse than our prior expectations but doesn't affect our long-term view of the company, as we anticipate that revenue will fully recover over the next year or two. We maintain our $196 fair value estimate and view shares as fairly valued.

Wide-moat Analog Devices reported decent fiscal fourth-quarter results but provided investors with a modestly disappointing outlook for fiscal 2024's first quarter, as it is facing a cyclical downturn across several end markets. We think the company is taking the right steps to weather the storm. We’re confident that it is not losing market share, still has industry-leading analog design expertise, and benefits from high switching costs across its customer base. We maintain our $196 fair value estimate and view the shares as modestly undervalued.

Wide-moat Analog Devices reported decent fiscal third quarter results but provided investors with a disappointing forecast for the October quarter as it suggests a further deceleration of broad-based chip demand and an inventory buildup at many of its customers across all end markets and regions. ADI’s rival, Texas Instruments, made similar comments last month, so we don’t believe ADI is losing share or facing any company-specific headwinds. We’ve reduced our near-term estimates for fiscal 2024 but still maintain our $196 fair value estimate, as we think ADI can weather this storm, and we agree with management’s view that it can achieve a 7%-10% long-term CAGR. In turn, we’re starting to see an attractive margin of safety in this best-of-breed chipmaker for long-term, patient investors willing to ride out a further slowdown in demand.