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Analog Devices Inc ADI Stock Quote

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Morningstar‘s Stock Analysis ADI

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Analog Devices Still Sees Robust Demand in Industrial and Automotive Chips; Raising FVE to $186

Brian Colello, CPA Sector Director

Analyst Note

| Brian Colello, CPA |

Analog Devices reported strong fiscal fourth-quarter results and provided investors with a decent forecast for the January quarter. Although ADI cited demand uncertainty and weakening macroeconomic conditions, the company still foresees strong year-over-year revenue growth as the global chip shortage (particularly in automotive and industrial semis) carries on. We raise our fair value estimate for wide-moat ADI to $186 from $172, mostly due to the time value of money as we roll our valuation model. Shares in this high-quality chipmaker still appear modestly undervalued to us.

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Key Statistics ADI

Company Profile ADI

Business Description

Analog Devices is a leading analog, mixed signal, and digital signal processing chipmaker. The firm has a significant market share lead in converter chips, which are used to translate analog signals to digital and vice versa. The company serves tens of thousands of customers, and more than half of its chip sales are made to industrial and automotive end markets. Analog Devices' chips are also incorporated into wireless infrastructure equipment.

One Analog Way
Wilmington, MA, 01887
T +1 781 935-5565
Industry Semiconductors
Most Recent Earnings Oct 31, 2022
Fiscal Year End Oct 28, 2023
Employees 24,450

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