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Free Research Report as Analog Devices' Quarterly Earnings Advanced 40.78%

LONDON, UK / ACCESSWIRE / June 27, 2018 / If you want access to our free earnings report on Analog Devices, Inc. (NASDAQ: ADI), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ADI. On May 20, 2018, Analog Devices reported financial results for the second quarter of 2018 ending May 05, 2018. The Company surpassed analysts' estimates for earnings as well as revenue in Q2 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Analog Devices most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

Analog Devices' total revenues reached $1.51 billion for Q2 FY18, reflecting an increase of 31.80% from $1.15 billion in Q2 FY17 driven by focused research and development (R&D) investments and strong business conditions. The reported revenue number exceeded analysts' consensus estimates of $1.47 billion.

Industrial segment accounted for 52% of Analog Devices' total revenue in the quarter under review, while Automotive segment accounted for 16%, consumer for 13% and communications for 19%.

During Q2 FY18, Analog Devices' cost of sales was $479.24 million, 5.58% lower than $507.54 million in Q2 FY17. The Company's gross margin advanced 61.42% to $1.03 billion in the reported quarter from $640.44 million in the previous year's comparable quarter. Analog Devices' gross margin increased 22.47 percentage points to 68.33% in Q2 FY18 from 55.79% in Q2 FY17.

Analog Devices incurred total operating expenses of $569.84 million in Q2 FY18, 15.21% higher than the $494.61 million reported in Q2 FY17. In Q2 FY18, the Company's R&D expenses increased 23.06% to $289.47 million on a y-o-y basis, while selling, marketing and general and administrative (G&A) expenses declined 9.72% to $172.15 million on a y-o-y basis. Analog Devices' operating income jumped 218.15% to $463.98 million in the quarter under review from $145.84 million in the previous year's same quarter.

Analog Devices' net income for the quarter ending May 05, 2018, was $379.83 million; an increase of 305.96% from $93.56 million in the same period last year. The Company's diluted earnings per share (DEPS) also rose 274.07% to $1.01 in the reported quarter from $0.27 in the year ago corresponding quarter. The reported earnings included acquisition-related expenses, acquisition-related transaction costs, and impact of uncertain tax positions. Analog Devices' adjusted DEPS, excluding these non-recurring items, was $1.45 in Q2 FY18, up 40.78% from $1.03 in Q2 FY17. This was higher than analysts' consensus estimates of $1.37 per share.

Cash Matters

Analog Devices had cash and short-term investments of $806.52 million as on May 05, 2018, compared to $6.19 billion as on April 29, 2017. The Company's long-term debt declined 19.20% to $6.93 billion at the end of Q2 FY18 from $8.57 billion at the end of Q2 FY17.

Analog Devices' net cash flow from operating activities for the three months ending May 05, 2018, was $718.49 million, 33.22% higher than $539.32 million in the same period last year. The Company had a free cash flow of $664.59 million in Q2 FY18, up 34.97% on a y-o-y basis.

Analog Devices spent $53.90 million on purchases of property, plant, and equipment in Q2 FY18 compared to $46.93 million in Q2 FY17; reflecting an increase of 14.85%.

Analog Devices paid $178.28 million in dividends in Q2 FY18, 27.97% higher than $139.31 million in Q2 FY17. The Company spent $21.98 million in common stock repurchases in the reported quarter, 7.94% lower than $23.87 million in the same period last year.


For the third quarter of fiscal 2018, Analog Devices expects GAAP and non-GAAP revenue to be in the range of $1.47 billion to $1.55 billion. The Company expects GAAP operating margin of 30% to 32% and non-GAAP operating margin of 41% to 43% in Q3 FY18. Analog Devices anticipates GAAP EPS to be in the range of $0.96 to $1.10 and non-GAAP EPS to be in the range of $1.38 to $1.52 in Q3 FY18.

Analog Devices' Board of Directors declared a quarterly cash dividend of $0.48 per outstanding share of common stock. The dividend was paid on June 19, 2018, to all shareholders of record at the close of business on June 08, 2018.

Stock Performance Snapshot

June 26, 2018 - At Tuesday's closing bell, Analog Devices' stock was marginally up 0.57%, ending the trading session at $98.71.

Volume traded for the day: 2.01 million shares.

Stock performance in the last month - up 3.42%; previous three-month period - up 8.41%; past twelve-month period - up 22.51%; and year-to-date - up 10.87%

After yesterday's close, Analog Devices' market cap was at $37.32 billion.

Price to Earnings (P/E) ratio was at 87.51.

The stock has a dividend yield of 1.95%.

The stock is part of the Technology sector, categorized under the Semiconductor - Integrated Circuits industry. This sector was up 0.3% at the end of the session.


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