Analog Devices Inc

ADI: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$627.00	Dzxh	Gswtwdyfrn

Analog Devices Earnings: The Worst of the Cyclical Downturn Appears to Be Over

Brian Colello

Aug 21, 2024

Wide-moat Analog Devices reported solid fiscal third-quarter results and provided investors with an outlook for the fourth quarter that was in line with our expectations and suggests a sequential recovery in industrial chip demand. We maintain our $225 fair value estimate and view the shares as fairly valued. We continue to view ADI as a leader in analog semis that should benefit from increasing chip content in auto and industrial applications in the coming years.

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