Post-Earnings Review - Analog Devices

LONDON, September 5, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings review on Analog Devices Inc. (NASDAQ: ADI). The company featured in the headlines on Tuesday, August 26, 2014 after reporting results for Q3 FY14 ended August 02, 2014. During Q3 FY14, Analog Devices Inc.'s GAAP revenue grew 8% Y-o-Y and 5% Q-o-Q, and its GAAP diluted EPS increased by a cent from Q3 FY13. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview  

During Q3 FY14, Analog Devices Inc.'s GAAP revenue increased to $727.75 million, from $674.17 million, in the year ago quarter. Analysts from Bloomberg anticipated GAAP revenue of $716.16 million for the reported quarter. The company's non-GAAP revenue for Q3 FY14 stood at $722.36 million, compared with $674.17 million in Q3 FY13. Analog Devices Inc.'s GAAP net income for Q3 FY14 broadened to $180.61 million, or $0.57 per diluted share, from $176.24 million, or $0.56 per diluted share, in the previous year quarter. Analysts from Bloomberg were expecting GAAP net income of $200.20 million, or $0.63 per diluted share for Q3 FY14. The company's non-GAAP diluted EPS for Q3 FY14 increased to $0.63, from $0.57 in Q3 FY13. Further, the company's GAAP and non-GAAP gross margin for the reported quarter were 65.4% and 66.5% of revenue, respectively. Analog Devices Inc.'s GAAP operating expenses for Q3 FY14 increased to $273.74 million, or 37.6% of revenue, from $226.72 million, or 33.6% of revenue, in Q3 FY13. Additionally, the company reported GAAP operating income of $202.55 million, or 27.8% of revenue, in Q3 FY14, compared to $208.34 million, or 30.9% of revenue, in the preceding year quarter. The free research on ADI can be downloaded as in PDF format at:

http://www.Investor-Edge.com/ADIFreeReport

During Q3 FY14, the company declared a cash dividend of $0.37 per outstanding share of common stock, to be paid on September 17, 2014, to the shareholders as of record on September 05, 2014. In its outlook for Q4 FY14, the company is expecting non-GAAP diluted earnings to be in the range of $0.66 to $0.70 per share. Analog Devices Inc.'s non-GAAP gross margin is expected to be approximately 66.2%, while its non-GAAP operating expenses are projected to be between $268 million and $271 million. Further, the company's non-GAAP interest and other expenses are estimated to be approximately $6 million and non-GAAP tax rate is expected to be 15.5% to 16%.

The President and CEO of Analog Devices Inc., Vincent Roche, stated in the press release that the company achieved another good quarter of revenue growth driven by the industrial and communications infrastructure markets. He added that the company maintained strong profitability and cash flow, and returned $173 million to shareholders through cash dividends and share repurchases during the third quarter. Mr. Roche further stated that the company completed the acquisition of Hittite Microwave towards the end of the third quarter. The acquisition added critical radio frequency, microwave and millimeter wave technology to the company's product portfolio that helped in expanding complete solutions to its industrial, aerospace and defense, communications, and automotive customers. He further said that with the addition of Hittite Microwave Corp., Analog Devices Inc. is expecting revenue to be in the range of $790 million to $820 million in Q4 FY14. Sign up and read the free analyst's notes on ADI at:

http://www.Investor-Edge.com/ADI-05092014

Stock Performance  

On Wednesday, August 27, 2014, a day after the earnings release, shares in Analog Devices Inc. fell by 2.27%, finishing the session at $51.03. The stock has further moved down since then, although, on the last close, Thursday, September 04, 2014, it finished 0.32% higher at $50.41. The stock vacillated between $50.25 and $50.67 during the trading session. A total of 1.44 million shares were traded, which was below its three months average volume of 1.82 million shares. Over the previous three trading sessions and from the beginning of 2014, the company's shares have declined 1.39% and 1.02%, respectively. However, the stock has advanced 1.45% over the last one month. Shares in Analog Devices Inc. are trading below their 50-day and 200-day moving averages of $52.07 and $51.39, respectively. Furthermore, the stock traded at a PE ratio of 22.78 and has a Relative Strength Index (RSI) of 40.10. Visit Investor-Edge and access the latest research on ADI at:

http://www.Investor-Edge.com/ADIEarningsCoverage

Sneak Peek to Corporate Insider Trading  

In the last one month, there were four insider transactions made by two insiders. On August 11, 2014, David A. Zinsner, Vice President, Finance and CFO at Analog Devices Inc., purchased 5,140 shares of the company at $20.00 per share for a total of $102,800.00, and on the same day, he disposed an equal number of shares at $49.62 per share for $255,047.00. In addition, on September 02, 2014, Mr. Vincent T. Roche, President and CEO of Analog Devices Inc., bought 8,000 shares of the company at a price of $33.41 per share for a total of $267,280.00, and on the same day, he sold 8,000 shares at a price of $51.10 per share for $408,800.00. Complimentary in-depth research on ADI is available at:

http://www.Investor-Edge.com/ADIInsiderTrading

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