Analog Devices: Continue To View FY2024 As The Year Of Recovery [Seeking Alpha]
Analog Devices, Inc. (ADI)
Last analog devices, inc. earnings: 2/19 08:00 am
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US:NASDAQ Investor Relations:
investor.analog.com/investor-relations
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Source: Seeking Alpha
Booking momentum remains strong, suggesting a recovery is underway, and inventory reduction efforts are on track. Gross margin performance was resilient, and management plans to normalize capital expenditures in FY25, leading to potential free cash flow growth. Investment action I recommended a buy rating for Analog Devices, Inc. ( NASDAQ: ADI ) when I wrote about it the last time . As I expected, FY24 to be the trough of this cycle, the business should start to see positive growth inflection. Based on my current outlook and analysis, I recommend a buy rating. 1Q24 performance reinforced my view that FY24 is likely to see a recovery, and FY25 should see growth accelerate. The strong gross margin performance, continued focus on driving down inventory surplus, and intention to bring in the manufacturing process also led me to believe margin will expand from here and will remain structurally higher moving forward. Review In 1Q24 , ADI reported revenue of $2.513 billion, down 7
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ADI
News
- Analog Devices, Inc. to Report Second Quarter Fiscal Year 2024 Financial Results on Wednesday, May 22, 2024PR Newswire
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ADI
Earnings
- 2/21/24 - Beat
ADI
Sec Filings
- 4/5/24 - Form 4
- 4/4/24 - Form 144
- 4/3/24 - Form 8-K
- ADI's page on the SEC website