Analog Devices Inc. (ADI - Free Report) is a leading supplier of analog and DSP integrated circuits. The company is solidly positioned in growth markets like industrial, auto and communication. Also its products continue to see very strong deployment in the emerging automotive market. Analog Devices has a well-diversified business that guarantee relatively steady revenues throughout the year.
Analog Devices has been benefitting from strength across all the markets - industrial, automotive, consumer and communications, and increased focus on innovation and operational execution. While its investments are aimed at strengthening the product line and countering increasing competition, the policy of returning cash through dividends and share buybacks is likely to ensure investor loyalty.
Zacks Rank: Currently, Analog Devices has a Zacks Rank #2 (Buy) but that could change following its second-quarter fiscal 2018 earnings report which has just released.You can see the complete list of today’s Zacks #1 Rank stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Analog Devices delivered non-GAAP earnings of $1.45, which comfortably surpassed the Zacks Consensus Estimate of $1.37.
Revenues: Analog Devices delivered revenues of $1.51 billion, which beat the consensus estimate of $1.47 billion. Revenues surged 32% on a year-over-year basis.
Key Stats: Robust year-over-year growth in the Industrial, Automotive and Communications segments drove top-line growth.
Check back later for our full write up on this ADI earnings report later!
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