Research Desk Line-up: Semtech Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 20, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Analog Devices, Inc. (NASDAQ: ADI), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=ADI, following the Company's disclosure of its financial results on August 30, 2017, for the third quarter fiscal 2017. The Company's total revenue increased 65% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Semiconductor - Integrated Circuits industry. Pro-TD has currently selected Semtech Corporation (NASDAQ: SMTC) for due-diligence and potential coverage as the Company reported on August 30, 2017, its unaudited financial results for Q2 FY18 which ended on July 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Semtech when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ADI; also brushing on SMTC. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=ADI

http://protraderdaily.com/optin/?symbol=SMTC

Earnings Reviewed

For three months ended July 29, 2017, Analog Devices' total revenue increased 65% to $1.43 billion from $869.59 million in Q3 FY16. For the reported quarter, the Company's adjusted total revenue increased 68% to $1.46 billion from $869.59 million in Q3 FY16. The total revenue surpassed analysts' expectations of $1.40 billion.

For the reported quarter, the Company's gross profit increased 34% to $766.62 million from $572.29 million in Q3 FY16. During Q3 FY17, the Company's gross margin was 53.5% of revenue compared to 65.8% of revenue in Q3 FY16. For the reported quarter, the Company's adjusted gross margin increased 450 basis points to 70.5% of revenue from 66.0% of revenue in Q3 FY16.

For the reported quarter, Analog Devices' selling, general, and administrative (SG&A) expenses increased 49.7% to $183.98 million from $122.91 million in Q3 FY16. During Q3 FY17, the Company's research and development (R&D) expenses increased 68.9% to $275.67 million from $163.23 million in Q3 FY16. In Q3 FY17, the Company's amortization expenses increased 542.7% to $112.15 million from $17.45 million in Q3 FY16.

During Q3 FY17, Analog Devices' total operating expenses increased 88.4% to $571.80 million from $303.58 million in Q3 FY16. For the reported quarter, the Company's total adjusted operating expenses increased 57.4% to $437.05 million from $277.69 million in Q3 FY16.

During Q3 FY17, the Company's operating income decreased 27.5% to $194.82 million from $268.71 million in Q3 FY16. During Q3 FY17, the Company's adjusted operating income increased 99.3% to $590.91 million from $296.49 million in Q3 FY16. For the reported quarter, Analog Devices' adjusted operating margin increased 720 basis points to 41.3% of revenue from 34.1% of revenue in Q3 FY16.

During Q3 FY17, Analog Devices' net income decreased 70% to $68.92 million from $230.43 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS decreased 75.7% to $0.18 from $0.74 in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS increased 53.7% to $1.26 on a y-o-y basis from $0.82 in Q3 FY16. The adjusted diluted EPS surpassed analysts' expectations of $1.15.

Balance Sheet

As on July 29, 2017, Analog Devices' cash and short-term investments decreased 76.1% to $908.57 million from $3.80 billion in Q3 FY16.

During Q3 FY17, the Company's net accounts receivable increased 52.9% to $692.55 million from $452.94 million in Q3 FY16.

Analog Devices' inventories increased 32.5% to $519.70 million in Q3 FY17 from $392.30 million in Q3 FY16.

During Q3 FY17, the Company's long-term debt increased 374% to $8.20 billion from $1.73 billion in Q3 FY16.

For the reported quarter, Analog Devices' cash provided by operating activities was negative $364.28 million compared to positive $254.00 million in Q3 FY16.

During Q3 FY17, the Company's adjusted free cash flow increased 48.8% to $322.10 million from $216.48 million in Q3 FY16.

Outlook

For Q4 FY17, Analog Devices expects revenue to be in the range of $1.45 billion to $1.55 billion.

The Company estimates diluted EPS to be in the range of $0.84 to $0.98, and adjusted diluted EPS to be in the range of $1.29 to $1.43 for Q4 FY17.

Stock Performance

At the closing bell, on Tuesday, September 19, 2017, Analog Devices' stock rose slightly by 0.08%, ending the trading session at $85.24. A total volume of 1.78 million shares have exchanged hands. The Company's stock price soared 7.63% in the last three months, 4.21% in the past six months, and 36.47% in the previous twelve months. Moreover, the stock surged 17.38% since the start of the year. The stock is trading at a PE ratio of 42.56 and has a dividend yield of 2.11%. The stock currently has a market cap of $31.31 billion.

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