Analog Devices Q4 Profit More than Doubles, Beating Estimates (ADI)

By Staff,

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Microchip components maker Analog Devices, Inc. ( ADI ) late Monday said its fiscal fourth quarter profit more than doubled from last year on sharply higher revenue.

The Norwood, MA-based company reported fiscal fourth quarter net income of $225 million, or 73 cents per share, compared with $105.6 million, or 36 cents per share, in the year-ago period.

Sales surged 37% from last year to $770 million.

On average, Wall Street analysts expected a smaller profit of 70 cents per share, on $756 million in revenue.

Its somewhat muted forecast sent its shares lower, however - Analog Devices shares fell 51 cents, or -1.4%, in premarket trading Tuesday.

The Bottom Line
Shares of Analog Devices ( ADI ) have a 2.45% dividend yield, based on last night's closing stock price of $35.96. The stock has technical support in the $32 price area. If the shares can firm up, we see overhead resistance around the $40 price level.

Analog Devices, Inc. ( ADI ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: ADI

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