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Analog Devices Inc. (ADI) is a leading global high-performance analog technology company dedicated to solving tough engineering challenges across various sectors.
The company generated 61% of its revenue from distributors and 38% from direct-to-customer channels during the first quarter of 2021. Within those channels, 55% of its revenue from industrial, 18% from communications, 16% from automotive and 11% from consumer segments – with the fastest growth coming from the industrial segment.
Analog Devices reported fiscal first-quarter revenue that rose by 20% to $1.56 billion, beating consensus estimates by $50 million, and non-GAAP earnings of $1.44 per share, beating consensus estimates by 12 cents per share. While the economic backdrop remains uncertain, management is confident in its alignment to the most important secular growth trends.
With robust cash generation and a free cash flow margin that places it in the top 10% of companies in the S&P 500 Index, the company remains committed to returning the majority of its free cash flow to shareholders in order to deliver long-term value.
The company raised its quarterly dividend by 11% to $0.69 per share, which represents a 1.75% forward yield. The dividend is payable on March 9, 2021 to shareholders on record as of February 26, 2021.
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