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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Analog Devices    ADI

ANALOG DEVICES

(ADI)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe BZX - 03/31 05:24:11 pm
87.73 USD   -3.56%
03/30ANALOG DEVICES : Expediting Production of Healthcare Technologies
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03/30ANALOG DEVICES : Takes Action to Support Customers During COVID-19 Pandemic
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03/26ANALOG DEVICES : Withdraws Guidance
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Analog Devices revenue forecast misses, but investors shrug off virus impact

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02/19/2020 | 05:36pm EDT

Analog Devices Inc forecast second-quarter revenue below analysts' estimates on Wednesday, as the U.S. chipmaker braced for a $70 million hit related to the coronavirus outbreak.

But the company's results beat Wall Street expectations, sending shares up 4.49% to close at $123.89. Fiscal first quarter adjusted earnings per share were $1.03, versus expectations of $1, according to IBES data from Refinitiv.

The fast-spreading virus, which has killed over 2,000 in China, has roiled businesses globally and disrupted supply chains, prompting companies including Apple Inc to warn of potential damage.

"Excluding (coronavirus impact), revenue guide would have been actually better than consensus and more importantly much better than buyside expectations," Evercore analyst C.J. Muse said.

The Norwood, Massachusetts-based supplier of certain iPhone components estimated revenue of $1.35 billion for the current quarter, plus or minus $50 million, below analysts' estimates of $1.38 billion, according to IBES data from Refinitiv.

The bulk of Analog Devices' revenue comes from industrial, communications and automotive customers with less exposure to supply chain disruptions in China than its product consumers, who accounted for about 13% of revenue in the fiscal first quarter ended Feb. 1.

"I think if I were a consumer company, I would be far more concerned about the centricity of China in my supply chain," Chief Executive Vincent Roche said in an interview.

Chief Financial Officer Prashanth Mahendra-Rajah said the revenue outlook also assumes an impact on its communications unit due to potential delays in the rollout of 5G networks.

Roche said the delays have been uneven. While China has taken a "pause" in building out 5G networks, he said other parts of Asia such as Southeast Asia and Japan were on track, with the United States poised to build up late in 2020 and India presenting a longer-term opportunity.

"I think we're in the first innings," he said.

Asked about potential new restrictions on selling to Huawei Technologies Co Ltd recently discussed by U.S. trade officials, Roche said Analog Devices does not discuss specific customers but that new rules were unlikely to affect the company's long-term growth in 5G networks.

Five major companies - two European, one Korean and two Chinese - are now supplying 5G gear, expanding Analog Devices' customer base, Roche said.

""We believe with the strength of product portfolio we have, the customer relationships we have with the big five players globally, including China, that irrespective of what the administration in the U.S. might throw at us from an embargo standpoint, we will still grow that business over the next year to three years," he said.

By Munsif Vengattil and Stephen Nellis

Stocks mentioned in the article
ChangeLast1st jan.
ANALOG DEVICES -1.45% 89.65 Delayed Quote.-24.56%
APPLE INC. -0.20% 254.29 Delayed Quote.-13.40%
EVERCORE INC. -1.35% 46.06 Delayed Quote.-38.39%
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Financials (USD)
Sales 2020 5 491 M
EBIT 2020 2 079 M
Net income 2020 1 084 M
Debt 2020 4 308 M
Yield 2020 2,58%
P/E ratio 2020 30,8x
P/E ratio 2021 23,0x
EV / Sales2020 6,80x
EV / Sales2021 6,09x
Capitalization 33 011 M
Chart ANALOG DEVICES
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Technical analysis trends ANALOG DEVICES
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 122,60  $
Last Close Price 89,65  $
Spread / Highest target 61,7%
Spread / Average Target 36,8%
Spread / Lowest Target 0,39%
EPS Revisions
Managers
NameTitle
Vincent T. Roche President, Chief Executive Officer & Director
Raymond P. Stata Chairman
Steve Lattari Senior VP-Global Operations & Technology
Prashanth Mahendra-Rajah Chief Financial Officer & Senior Vice President
Daniel Leibholz Chief Technology Officer
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