ADI Stock Recent News

WILMINGTON, Mass. , Aug. 28, 2024 /PRNewswire/ -- Analog Devices, Inc. (Nasdaq: ADI) today announced that the Company's Executive Vice President, Global Operations and Technology, Vivek Jain, will discuss business topics and trends at Citi's 2024 Global Technology Conference, taking place at the Lotte New York Palace Hotel located in New York, New York, on Wednesday, September 04, 2024, at 1:20 p.m.

Recommended buy rating for Analog Devices due to start of a growth cycle. 3Q24 saw first sequential revenue growth, strong margins, and positive booking metrics. China recovery momentum and robust inventory management position ADI are positive.

Analog 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.

Analog Devices, Inc. ADI posted better-than-expected third-quarter financial results on Wednesday.

We maintain our hold rating on Analog Devices, even after investors' positive reaction to 3Q24 results and outlook for sequential growth. We think the worst of the slump might be over, but the rally isn't here yet. Management's commentary on the industrial and auto-markets (which account for 75% of total sales) confirms a muted demand environment at the back end of the year.

Analog Devices' stock jumped 6% after reporting strong Q3 earnings. CFO Rich Puccio's earnings call comments regarding the auto industry tempered the market reaction.

Analog Devices' (ADI) third-quarter fiscal 2024 results are hurt by weakness in industrial, communications and automotive end markets.

Analog Devices, Inc. (NASDAQ:ADI ) Q3 2024 Earnings Conference Call August 21, 2024 10:00 AM ET Company Participants Michael Lucarelli - Vice President, Investor Relations and FP&A Vincent Roche - Chief Executive Officer and Chair of the Board of Directors Richard Puccio - Executive Vice President and Chief Financial Officer Conference Call Participants Tore Svanberg - Stifel Joseph Moore - Morgan Stanley Vivek Arya - Bank of America Securities Timothy Arcuri - UBS Toshiya Hari - Goldman Sachs Stacy Rasgon - Bernstein Research Christopher Danley - Citigroup Harlan Sur - JPMorgan Joshua Butler - TD Cowen Operator Good morning. And welcome to the Analog Devices ' Third Quarter Fiscal Year 2024 Earnings Conference Call, which is being audio webcast via telephone and over the web.

Analog Devices (NASDAQ: ADI ) just reported results for the third quarter of 2024. Analog Devices reported earnings per share of $1.58.

Analog Devices (ADI) came out with quarterly earnings of $1.58 per share, beating the Zacks Consensus Estimate of $1.50 per share. This compares to earnings of $2.49 per share a year ago.