5 Stocks in The Limelight After Quarterly Reports

1. Analog Devices, Inc. (NASDAQ:ADI)

Number of Hedge Fund Holders: 74

Shares of Analog Devices, Inc. (NASDAQ:ADI) were seen trading nearly flat in the morning trading session on Tuesday, 23 November 2021, despite releasing solid profit and sales for its fiscal fourth quarter.

The Massachusetts-based semiconductor company reported adjusted earnings of $1.73 per share, up from $1.44 per share in the year-ago quarter. Revenue for the quarter climbed 53 percent on a year-over-year basis to $2.34 billion. Analysts were expecting Analog Devices, Inc. (NASDAQ:ADI) to post earnings of $1.70 per share on revenue of $2.25 billion.

Analog Devices, Inc. (NASDAQ:ADI) also released the financial outlook for its fiscal first quarter. It expects adjusted earnings in the range of $1.68 – $1.88 per share and revenue between $2.5 billion – $2.7 billion for the current quarter.

CEO Vincent Roche expressed his pleasure with the latest quarterly performance. Roche said in a statement:

“ADI delivered another quarter of record revenue and profits, marking a strong end to the fiscal year. Our Industrial and Automotive markets reached all-time highs and our Consumer business returned to solid growth in fiscal 2021. As we enter fiscal 2022, our backlog and bookings remain robust, and we continue to invest in capacity, setting us up for continued growth in the years ahead.”

You can also take a peek at Martin Taylor’s Crake Asset Management Portfolio: Top 10 Stock Picks and Top 10 Stock Picks of Brandon Osten’s Venator Capital Management.

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