CORRECTED-Analog Devices Inc reports results for the quarter ended May 3 - Earnings Summary

By Lynx Insight Service

May 22 (Reuters) -

• Analog Devices Inc ADI.OQ reported quarterly adjusted earnings of $1.85​​ per share for the quarter ended May 3, higher than the same quarter last year, when the company reported EPS of $1.40. The mean expectation of twenty eight analysts for the quarter was for earnings of $1.70 per share. Wall Street expected results to range from $1.67 to $1.79 per share.

• Revenue rose 22.3% to $2.64 billion from a year ago; analysts expected $2.51 billion.

• Analog Devices Inc's reported EPS for the quarter was $1.14​.

• The company reported quarterly net income of $569.77 million.

• Analog Devices Inc shares had risen by 10.2% this quarter and gained 4.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.5% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy," 11 "hold" and no "sell" or "strong sell." The average consensus recommendation for the semiconductors peer group is also "buy"

• Wall Street's median 12-month price target for Analog Devices Inc is $248.00

This summary was machine generated from LSEG data May 22 at 12:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)