Analog Devices Reports Q4 Profits Fell; Lowers Future Guidance (ADI)


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Chip Manufacturer, Analog Devices, Inc.( ADI ) reported decreased earnings, missing analysts estimates Wednesday.

The Norwood, MA based company reported fourth quarter earnings of $179.2 million, or 58 cents per share, down 2 percent from last years earnings of $183.5 million, or 60 cents per share. Analyst expected EPS of 57 cents.

Revenue for the quarter declined by 3 percent to $695 million. Analysts expected to see revenue of $698.32 million.

Looking ahead, ADI expects to see first quarter earnings in the range of 40 cents to 48 cents, which would miss analysts expectations of 54 cents. The company expects to see Q1 revenue down 6-12%.

Analog Devices shares were down $1.21, or -3.02% during premarket trading Wednesday. The stock is up 2.64% YTD.

The Bottom Line
Shares of Analog Devices ( ADI ) have a 2.99% dividend yield, based on last night's closing stock price of $40.11. The stock has technical support in the $36-$37 price area. If the shares can firm up, we see overhead resistance around the $43-$45 price levels.

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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