LONDON, March 16, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free post-earnings coverage on Analog Devices Inc. (NASDAQ: ADI). On February 17, 2015, the company reported its Q1 FY15 financial results (period ended January 31, 2015). Click on http://get.Investor-Edge.com/pdf/?c=Analog%20Devices&d=16-Mar-2015&s=ADI to read our free earnings review on Analog Devices Inc. (ADI). The company's GAAP gross margin improved 10 basis points Y-o-Y during Q1 FY15. President and CEO of ADI, Vincent T. Roche, stated the company executed well in Q1 FY15, with results that were near the high end of its guidance range and year-over-year revenue growth of 23%. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Analog%20Devices&d=16-Mar-2015&s=ADI
Earnings Overview
During Q1 FY15, ADI's revenue grew to $771.99 million from $628.24 million in Q1 FY14. The company's reported revenue exceeded Bloomberg analysts' forecasts of $760.52 million. ADI's Q1 FY15 GAAP and non-GAAP gross margin percentage stood at 65.2% and 65.6%, respectively, compared to 65.1%, each, in Q1 FY14. Moreover, the company's GAAP operating expenses increased to $295.67 million in Q1 FY15 from $229.51 million in Q1 FY14. Free research on ADI can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Analog%20Devices&d=16-Mar-2015&s=ADI
In Q1 FY15, ADI's GAAP net income increased to $178.76 million, or $0.57 per diluted share, from $152.59 million, or $0.48 per diluted share, in Q1 FY14. Analysts from Bloomberg had expected the company to report Q1 FY15 GAAP net income of $168.23 million, or $0.53 per diluted share. Furthermore, ADI's non-GAAP diluted earnings per share (EPS) for Q1 FY15 increased to $0.63 from $0.49 per diluted share in Q1 FY14.
During Q1 FY15, ADI announced an 8% increase in quarterly cash dividend from $0.37 to $0.40 per outstanding share of common stock. The dividend payment was made on March 10, 2015, to all shareholders of record at the close of business on February 27, 2015.
Mr. Roche informed that, as typically happens, order rates improved in January, particularly in the industrial and automotive end markets, and have remained strong thus far. Accordingly, the company is planning for strong growth in the second quarter, with significant operating leverage, he added. Sign up and read the free analyst's notes on ADI at:
http://get.Investor-Edge.com/pdf/?c=Analog%20Devices&d=16-Mar-2015&s=ADI
For Q2 FY15, the company expects GAAP and non-GAAP revenues in the range of $810 million to $830 million, each. ADI's GAAP and non-GAAP gross margin is anticipated to be approximately 66.5% each. The company expects GAAP operating expenses to be approximately flat compared to Q1 FY15 values, whereas as non-GAAP operating expenses is expected to increase 2% to 3% sequentially, during Q2 FY15. Further, the company's GAAP and non-GAAP interest and other expenses are projected to be $5.0 million, each. ADI's GAAP and non-GAAP tax rate for Q2 FY15 is projected to be approximately 16.5% and 15%, respectively. In addition, the company expects GAAP EPS to be in the range of $0.62 to $0.66, and non-GAAP EPS to be in the range of $0.70 to $0.74.
Stock Performance
On the day following the earnings release, February 18, 2015, ADI's stock edged 0.73% lower, to end the session at $58.38. Since then, the stock has moved both ways. On the last close, Friday, March 13, 2014, the company's stock finished at $57.53, up 0.03%, after vacillating between $56.80 and $57.70. A total of 1.28 million shares were traded which was below their three months average volume of 1.82 million shares. Over the last one month and over the previous three months, the company's shares have advanced 0.84% and 2.89%, respectively. Further, the stock has gained 14.85% in the past one year. Shares in ADI closed above their 50-day and 200-day moving averages of $55.90 and $52.66, respectively. Furthermore, the stock traded at a PE ratio of 23.38 and has a Relative Strength Index (RSI) of 51.07. Visit Investor-Edge and access the latest research on ADI at:
http://get.Investor-Edge.com/pdf/?c=Analog%20Devices&d=16-Mar-2015&s=ADI
Sneak Peek to Corporate Insider Trading
In the last one month, there were 21 insider transactions made by nine individuals. Between February 20, 2015 and March 12, 2015, a total of 151,368 shares have been purchased at an average price of $34.14 per share and for a total value of $5.17 million. During the stated period, a total of 227,966 shares were also disposed at an average price of $59.30 per share and for a total of $13.52 million. The following are a few of the abovementioned transactions: on February 24, 2015, Ray Stata, Chairman of the Board at ADI, disposed 75,000 shares at an average price of $59.37 per share. On the same day, Vincent T. Roche purchased 50,000 shares at an average price of $39.44 and sold an equal number of shares at an average price of $59.56 per share; and Robert R. Marshall, Senior Vice President- Worldwide Manufacturing at ADI, bought 50,000 shares at an average price of $29.91 per share and disposed an equal number of shares at an average price of $59.35 per share. Complimentary in-depth research on ADI is available at:
http://get.Investor-Edge.com/pdf/?c=Analog%20Devices&d=16-Mar-2015&s=ADI
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