- Analog Devices reported a 2Q adjusted EPS of $1.40, surpassing estimated $1.27.
- The revenue earned by the company amounted to $2.16 billion, which is higher than the expected $2.11 billion.
- Industrial revenue noticed a surge, reaching $1.01 billion from the estimated figure of $947.7 million.
- Communications revenue figured out to be around $240.8 million, falling short of the estimated $252.8 million.
- Automotive revenue was recorded at $658.2 million, slightly less than the estimated $666.1 million.
- Consumer revenue saw a jump to $245.2 million from the predicted $240 million.
- Adjusted gross margin stood at 66.7%, slightly lower than the estimate of 67.1%.
- Adjusted operating margin ended up at 39%, ahead of the estimated figure of 37.7%.
- The company forecasts revenue of $2.27 billion (+/- $100 million) for the third quarter of fiscal 2024.
- Despite macro and inventory headwinds, the company delivered second quarter revenue above the midpoint of its outlook.
- Analysts’ rating on the company’s shares stands at 21 buys, 12 holds, and 0 sells.
Analog Devices on Smartkarma
Analog Devices Inc. has been under the spotlight on Smartkarma, where top independent analysts have been providing insightful research on the company’s performance. Baptista Research, a notable provider on the platform, shared their bullish sentiment on Analog Devices Inc.’s future prospects in recent reports.
One of Baptista Research‘s reports highlighted how Analog Devices Inc.’s Q1 2024 earnings showed a mixed performance, but with solid revenue figures above expectations. The report also emphasized the potential for growth and leadership in the intelligent edge era, despite ongoing inventory rationalization challenges. Another report by Baptista Research discussed Analog Devices Inc.’s innovative power solutions revolutionizing AI and ML systems, showcasing the company’s success in various sectors and strategic acquisitions. The analysts’ insights offer a comprehensive view of Analog Devices Inc.’s position in the market and its potential for growth in the coming periods.
A look at Analog Devices Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analyst reveals a positive long-term outlook for Analog Devices, as indicated by the Smartkarma Smart Scores. With strong momentum, the company is showing favorability in the market dynamics. Additionally, boasting a growth score of 4, Analog Devices is anticipated to expand steadily in the future. The company’s commitment to innovation and development aligns with its robust growth prospects.
Analog Devices‘ resilience score of 3 signifies its ability to weather challenges, indicating stability in its operations. Although the value and dividend scores stand at 3, suggesting a moderate performance in these areas, the overall outlook remains optimistic for Analog Devices. As a leader in designing and manufacturing integrated circuits, the company’s diverse range of products for various industries positions it well for sustained success in the global market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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