Analog Devices (ADI) To Report Earnings Tomorrow: Here Is What To Expect

Jabin Bastian /
2022/11/21 4:08 am EST

Manufacturer of analog chips, Analog Devices (NASDAQ:ADI) will be reporting earnings tomorrow before market hours. Here's what to look for.

Last quarter Analog Devices reported revenues of $3.1 billion, up 76.8% year on year, beating analyst revenue expectations by 1.7%. It was a decent quarter for the company, with exceptional revenue growth but an increase in inventory levels.

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 grow 34.9% year on year to $3.15 billion, slowing down from the 53.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.59 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 has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 3.25%.

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. Vishay Intertechnology delivered top-line growth of 13.6% year on year, missing analyst estimates by 0.03% and Texas Instruments reported revenues up 12.8% year on year, exceeding estimates by 1.9%. Vishay Intertechnology traded down 1.73% on the results, Texas Instruments was down 4.74%. Read our full analysis of Vishay Intertechnology's results here and Texas Instruments's results here.

There has been positive sentiment among investors in the analog semiconductors segment, with the stocks up on average 14.8% 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 $187.9, compared to share price of $156.99.

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