Analog Devices (ADI) Tops Q4 Earnings And Revenue Estimates
Zacks Investment Research | Nov 20, 2017 11:01PM ET
Analog Devices Inc. (NASDAQ:ADI) reported better-than-expected fiscal fourth-quarter 2017 results.
Adjusted earnings of $1.45 per share beat the Zacks Consensus Estimate by 8 cents and came ahead of the guided range of $1.29 to $1.43 per share. Earnings were up 15.1% sequentially and 38.1% year over year.
Revenues of $1.54 billion beat the consensus mark by $37 million and came close to the higher end of the guided range of $1.45 billion to $1.55 billion. Revenues surged 7.5% sequentially and a massive 53.6% year over year.
The better-than-expected results were driven by strength across all the markets — industrial, automotive, consumer and communications. Concurrent with the release of quarterly results, the company declared a quarterly cash dividend of 45 cents per share, translating into annual dividend of $1.80. The dividend is payable on Dec 12, 2017 to all shareholders of record as of Dec 1, 2017.
While its investments are aimed at strengthening the product line and countering increasing competition, the policy of returning cash through dividends and share buybacks will ensure investor loyalty.
Analog Devices stock has gained 28.2% year to date, slightly underperforming the 28.8% rally of the Zacks Investment Research
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