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Analog Devices, Inc. (NASDAQ:ADI) is scheduled to report its Q3 2012 results on August 21, 2012, after the bell. The street expects EPS and revenue of $0.56 and $692.42M, respectively.

In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from ADI and the news from its closest competitors.

Analog Devices, Inc. Revenue and Net Income History

Recent EPS Actuals vs. Estimates

In the last quarter it reported $0.53 EPS, beating analyst estimates of $0.51.

Analog Devices, Inc. EPS Historical Results vs Estimates

The consensus EPS estimate is $0.56 based on 24 analysts' estimates, down from $0.71 a year ago. Revenue estimates are $692.42M, down from $757.90M a year ago. The median target price by analysts for the stock is $41.50.

Average recommendation: Overweight

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On July 1, 2012, Sterne Agee downgraded the company from Buy to Neutral.
  • On May 8, 2012, UBS downgraded the company from Buy to Neutral.
  • On February 23, 2012, MKM Partners reiterated Neutral rating for the company.
  • On February 23, 2012, Canaccord Genuity reiterated Buy rating for the company.

Latest News

  • On May 23, 2012, Analog Devices, Inc. announced that for third quarter of 2012, it expects revenues to grow sequentially in the range of 1% to 4% and diluted earnings plan to be in the range of $0.54-$0.58. The Company reported revenue of $675 million in second quarter of 2012.
  • On May 22, 2012, Analog Devices, Inc. announced that the Board of Directors has declared a cash dividend of $0.30 per outstanding share of common stock. The dividend will be paid on June 12, 2012 to all shareholders of record at the close of business on June 1, 2012.
  • On March 30, 2012, Analog Devices, Inc. announced that it has acquired Multigig, Inc., a small, privately-held San Jose, California, company specializing in clocking technology.
  • On March 13, 2012, Analog Devices, Inc. announced that it will be transferring its stock exchange listing to The NASDAQ Global Select Market from The New York Stock Exchange.
  • On February 22, 2012, Analog Devices, Inc. announced that for second quarter of 2012, it expects revenue to be in the range of $655-$675 million and diluted earnings per share (NYSEARCA:EPS) in the range of $0.48-$0.53. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $684 million and EPS of $0.54 for second quarter of 2012.

Competitors

Cirrus Logic (NASDAQ:CRUS), Linear Technology (NASDAQ:LLTC), STMicroelectronics (NYSE:STM), Skyworks Solutions (NASDAQ:SWKS), and Texas Instruments (NASDAQ:TXN) are considered major competitors for Analog Devices and the table below provides the key metrics for these companies and the industry.

Analog Devices, Inc. key ratio comparison with direct competitors

The chart below compares the stock price changes as a percentage for the selected companies for the last one year period.

ADI Chart

ADI data by YCharts

Competitors' Latest Development

  • On August 9, 2012, STMicroelectronics N.V. announced the launch of a chip-scale gyroscope for motion-sensing applications. ST's L3GD20H gyroscope measures only 3 x 3mm and 1mm high.
  • On August 1, 2012, Cirrus Logic, Inc. announced that Al Schuele has been appointed Chairman of the Board of Directors, taking the place of the late Michael L. Hackworth, Cirrus Logic's co-founder, who passed away in April.
  • On August 1, 2012, STMicroelectronics NV (NYSE:ST) announced that it has worked with the Museum of Contemporary Art in Taipei to enrich the experience of visitors to Taiwan-based Chinese film-director King Hu's works exhibition through the use of indoor navigation.
  • On July 31, 2012, Cirrus Logic, Inc. announced that for second quarter of 2013, it expects revenue to grow more than 70% sequentially. The Company reported revenue of $99.01 million in first quarter of 2013.
  • On July 30, 2012, Texas Instruments Incorporated announced that it proposes to offer, subject to market and other considerations, approximately $1.0 billion of senior unsecured notes.
  • On July 30, 2012, Texas Instruments Incorporated announced the pricing of two series of senior unsecured notes for an aggregate principal amount of $1.5 billion. The notes consist of the following: $750 million of 0.45% notes due August 3, 2015 $750 million of 1.65% notes due August 3, 2019 TI intends to use the net proceeds of this offering for general corporate purposes which, among other things, could include repurchases of common stock.
  • On July 25, 2012, Linear Technology Corporation announced that for the first quarter of 2013, it expects revenues to be flat to up 3% over fourth quarter of 2012. The Company reported revenue of $330.0 million in the fourth quarter of 2012.
  • On July 23, 2012, Texas Instruments Incorporated announced that for the third quarter of 2012, it expects revenue to be in the range of $3.21-$3.47 billion and Earnings per share to be in the range of $0.34-$0.42. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $3.54 billion and EPS of $0.50 for the third quarter of 2012.
  • On July 18, 2012, Skyworks Solutions, Inc. announced that for the fourth quarter of 2012, it expects to record revenue in the range of $415-$420 million with diluted non-GAAP earnings per share of $0.50-$0.51. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $419 million and EPS of $0.51 for the fourth quarter of 2012.
  • On July 18, 2012, STMicroelectronics N.V. announced that it has introduced the industry's first digital radio chipset that enables simultaneous reception and processing of AM/FM and multiple digital-radio broadcasts (e.g. DAB+).
  • On July 17, 2012, STMicroelectronics N.V. announced that it has revealed new surge protection devices certified to the automotive industry's specifications.
  • On July 2, 2012, STMicroelectronics NV and Harbin Institute of Technology (HIT), a Chinese university, announced the opening of a joint laboratory to encourage innovation in electronics.
  • On June 28, 2012, STMicroelectronics N.V. announced that it has expanded its sensor portfolio with an ultra-compact, high-performance e-compass module. The integration of motion and magnetic sensing in a tiny 3x3x1mm package opens new possibilities for advanced navigation and location-based services in ever-sleeker portable consumer devices.
  • On June 26, 2012, STMicroelectronics N.V. announced that it is now delivering the first samples of its new STM32 F3 series of microcontrollers to OEM customers, enabling early evaluation of this new line in ST's product family featuring the ARMR Cortex-M core embedded.
  • On June 14, 2012, STMicroelectronics NV announced the introduction of the "Mystique" family of products, a high-speed active-protocol bi-directional converters for managing audio and video signals between DisplayPort and HDMI, two digital-display interface technologies used in computer and consumer electronics.
  • On June 13, 2012, STMicroelectronics N.V. and Wasion Group announced the availability of NFC-enabled post-pay power meters for deployment in the municipal grid of ChongQing, China.
  • On June 11, 2012, Texas Instruments Incorporated announced that for the second quarter of 2012, it currently expects revenue to be in the range of $3.28-3.42 billion compared with the prior range of $3.22-3.48 billion and EPS to be in the range of $0.32-0.36 compared with the prior range of $0.30-0.38.
  • On May 30, 2012, STMicroelectronics N.V. announced that during Annual General Meeting which was held in Amsterdam on May 30, 2012 it has approved the distribution of a cash dividend of USD 0.40 per share, to be paid in four equal quarterly installments, in June, August and December 2012 (November 29, 2012 in Europe) and February 2013 to shareholders of record in the month of each quarterly payment.
  • On April 26, 2012, Skyworks Solutions, Inc. announced that for third quarter of 2012, it expects revenue of $383 million with $0.44 of non-GAAP diluted earnings per share .
  • On April 25, 2012, Cirrus Logic, Inc. announced that for the fourth quarter of 2012, it expects revenue of $110.6 million and for the first quarter of 2013, revenue is expected to range between $96-$106 million.
  • On April 23, 2012, Cirrus Logic, Inc. announced the passing Of Chairman Mike Hackworth.
  • On April 23, 2012, STMicroelectronics N.V. announced that for second quarter of 2012, it expects revenues to grow sequentially in the range of about +7.5%, plus or minus 3% points.
  • On April 23, 2012, Texas Instruments Incorporated announced that for the second quarter of 2012, it expects revenue to be in the range of $3.22-$3.48 billion and Earnings per share to be in the range of $0.30-$0.38. The second quarter's results will be negatively affected by about $100 million of acquisition charges and about $10 million of restructuring charges.
  • On April 18, 2012, Linear Technology Corporation announced that for the fourth quarter of 2012, it expects to grow quarterly revenues sequentially in the 4%-8% range. The Company reported revenues of $312.4 million for the third quarter of 2012.
  • On April 14, 2012, Texas Instruments Incorporated announced that it will become a component of the NASDAQ-100 Index and the NASDAQ-100 Equal Weighted Index prior to market open on April 23, 2012.
  • On March 12, 2012, Texas Instruments Incorporated and iRobot Corp announced a partnership to develop robotic technologies using TI's smart multicore OMAP platform. The two companies will achieve this vision by leveraging iRobot's long history in advancing the field of robotics and TI's strength in applications processors and related technologies.
  • On March 8, 2012, Texas Instruments Incorporated announced that for the first quarter of 2012, it lowered its expected ranges for revenue and earnings per share . The reductions are due to lower demand for Wireless products.

Technical Overview


The stock has a market capitalization of $12.09B and is currently trading at $40.53 with a 52 week range of $29.80 - $40.83. The stock's year-to-date performance has been 15.11%. It is currently trading above 20, 50 and 200 SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Earnings Preview: Analog Devices