Analog Devices Inc
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Information Technology : Semiconductors & Semiconductor Equipment | Large Cap Blend
Company profile

Analog Devices, Inc. (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products. The Company is a supplier of data converter products. The Company is a supplier of high-performance amplifiers. Its analog product line also includes products of high performance radio frequency (RF) ICs. The Company's DSPs are used for high-speed numeric calculations. The Company offers its products for applications in various end markets, such as industrial, automotive, consumer and communications. The Company operates in the United States, Rest of North/South America, Europe, Japan and China.

Closing Price
Day's Change
1.84 (1.18%)
B/A Size
Day's High
Day's Low

10-day average volume:

UPDATE: Analog Devices stock drops after profit, revenue beat expectations but free cash flow fell more than forecast

11:54 am ET February 17, 2021 (MarketWatch)

Shares of Analog Devices Inc. (ADI) dropped 2.8% in premarket trading Wednesday, after the chip maker beat fiscal first-quarter profit and revenue expectations but missed free cash flow forecasts, while it raised its dividend by 11%. Net income for the quarter to Jan. 30 rose to $388.5 million, or $1.04 a share, from $203.9 million, or 55 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to $1.44 from $1.03, above the FactSet consensus of $1.33. Revenue rose 20% to $1.56 billion, topping the FactSet consensus of $1.51 billion. Free cash flow rose to $361 million, or 23% of revenue, from $295 million, or 23% of revenue, but missed the FactSet consensus of $494.6 million. Separately, the company raised its quarterly dividend to 69 cents a share from 62 cents, with the new dividend payable March 9 to shareholders of record on Feb. 26. "While the economic backdrop remains uncertain, we are confident that a broad-based recovery is underway given continued momentum in ADI's bookings and lean inventories across the industry," said Chief Executive Vincent Roche. The company expects second-quarter adjusted EPS of $1.44, plus or minus 8 cents, in line with the FactSet consensus is $1.44. The stock, which closed at a record on Friday, has rallied 18.1% over the past three months through Tuesday, while the PLHX Semiconductor Index has run up 27.1% and the S&P 500 has gained 9.0%.

-Tomi Kilgore; 415-439-6400;


(END) Dow Jones Newswires

February 17, 2021 11:54 ET (16:54 GMT)

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