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Analog Devices (ADI) Q4 Earnings: What To Expect

StockStory - Mon Nov 20, 2023

ADI Cover Image

Manufacturer of analog chips, Analog Devices (NASDAQ:ADI) will be reporting earnings tomorrow before the bell. Here's what you need to know.

Last quarter Analog Devices reported revenues of $3.08 billion, down 1.1% year on year, missing analyst expectations by 0.7%. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of analysts' revenue estimates.

Is Analog Devices buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Analog Devices's revenue to decline 16.4% year on year to $2.72 billion, a deceleration on the 38.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.02 per share.

Analog Devices Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 2.2%.

Looking at Analog Devices's peers in the analog semiconductors segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. NXP Semiconductors's revenues decreased 0.3% year on year, beating analyst estimates by 1% and Sensata Technologies reported revenue decline of 1.7% year on year, missing analyst estimates by 0.4%. NXP Semiconductors traded flat on the results, and Sensata Technologies was down 1.6%.

Read our full analysis of NXP Semiconductors's results here and Sensata Technologies's results here.

There has been positive sentiment among investors in the analog semiconductors segment, with the stocks up on average 11.4% over the last month. Analog Devices is up 11.9% during the same time, and is heading into the earnings with analyst price target of $201.3, compared to share price of $183.4.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

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The author has no position in any of the stocks mentioned.