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Better Times Ahead For Analog Devices Inc. (ADI) stock?

Semiconductor manufacturer Analog Devices Inc. (ADI) has issued a strong report for the second quarter of fiscal 2021. In the past few months, the company has boosted sales by double-digit rates, which may accelerate soon, given a global shortage of semiconductors.

Analog Devices’ revenue dropped 26 % year-on-year to $ 1.66 billion during the last quarter ended May 1. The company generated $2.2 billion of free cash flow, which was 36 % percent of revenue. Shares had a 58 % gain in diluted earnings ($1.14). While the company was doing this, it returned $ 440 million to shareholders through dividends and stock buybacks.

After COVID-19, Analog Devices Inc. (ADI) achieved record performance due to the recent recovery in industry activity. During the pandemic, Analog Devices invested more in renovation and expansion than most other companies. Now that the semiconductor market is tight, the company can grow its market share. The company offers a broad range of solutions, from chips for 5G networks to automotive and industrial electronics.

Analog Devices Inc. (ADI) expects to earn $1.61 per share and generate sales of $1.7 billion for the current quarter. A faster economic recovery resulted in the shortage of many components in the supply chain, as indicated by the company’s management. In the second half of 2021, this could lead to faster revenue and profits for Analog Devices.

Analog Devices Inc. (ADI) shares were falling 0.00% to trade at $159.47 in the current market at the last check. ADI’s stock closed the previous session at $159.47. ADI shares have risen by 39.19% over the last 12 months, and they have moved up by 8.76% in the past week. Over the past three months, the stock has lost -2.64%, while over the past six months, it has added 17.37%. Further, the company has a current market of $57.66 billion, and its outstanding shares stood at 369.20 million.

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