Analog Devices, Inc. (NASDAQ:ADI) Q1 2023 Earnings Call Transcript

Prashanth Mahendra-Rajah: Thanks, Harlan. Yes. So if we look at our outperformance versus SAR, it comes down to a couple items. First, as you mentioned, there’s a mix of premium cars, so higher content per vehicle and EV growth is accelerating. And our content is 3x as high on an EV versus a traditional ICE car. We’ve spoken at length that we’ve got real key content adders, our BMS product, our GMSL and our A2B are adopted and they’re really taking meaningful market share across all of our customer base there. And I think because of the performance that we bring to our customers, we’re able to capture value better than perhaps some others. So with those three working, we’re, we still feel pretty good that that we’re going to continue to have a, 2x to 3x multiplier on SAR.

So I don’t want to make a prediction as to what SAR is. So you’ve got a, I think IHS has a mid-single digit number, a lower mid-single digit number out there. But we’re for the year, I expect us to kind of be 2x to 3x wherever that lands.

Harlan Sur: Perfect. Insightful. Thank you, Prashanth.

Michael Lucarelli: Thank you Harlan, and thanks everyone for joining us on the call this morning. Two quick ones before I let you guys go. Our next earnings call will be held a week later than normal, as Vince was asked to give a keynote at IMAX Technology World Forum. So do not panic when we see your announcement. The earning is not two and a half weeks after closed, but three and a half weeks. Second, we’re planning to restart our ADI on coverage series where we do a deep dive into a market in the coming months. The first one will be on some of the topics we hit on today, automation, energy efficiency, sustainability, electrification. So stay tuned for those. And with that, thanks again for joining us and interest in Analog Devices.

Operator: This concludes today’s Analog Devices conference call. You may now disconnect.