Analog Devices Inc. Files 10-Q for Period Ending February 3, 2024

TL;DR

<b>Analog Devices Inc. filed its 10-Q report for the quarter ending February 3, 2024.</b>

AI Summary

ANALOG DEVICES INC (ADI) filed a Quarterly Report (10-Q) with the SEC on February 21, 2024. The filing covers the quarterly period ending February 3, 2024. The company's fiscal year ends on November 2nd. The filing is for Analog Devices Inc., identified by Central Index Key 0000006281. The Standard Industrial Classification code is 3674 (Semiconductors & Related Devices). The filing was submitted on February 21, 2024.

Why It Matters

For investors and stakeholders tracking ANALOG DEVICES INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Analog Devices Inc. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects in the semiconductor industry.

Risk Assessment

Risk Level: low — ANALOG DEVICES INC shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain unusual or high-risk information.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand Analog Devices' performance and outlook.

Key Numbers

• 2024-02-03 — Report Period End Date (Conformed Period of Report)
• 2024-02-21 — Filing Date (Filed As Of Date)
• 1102 — Fiscal Year End (Fiscal Year End)
• 2023-10-29 — Previous Quarter Start Date (Previous Quarter Start Date)
• 2023-01-28 — Previous Year Quarter End Date (Previous Year Quarter End Date)

Key Players & Entities

• ANALOG DEVICES INC (company) — Filer name
• 0000006281 (company) — Central Index Key
• 3674 (company) — Standard Industrial Classification
• MA (company) — State of Incorporation
• 042348234 (company) — IRS Number
• WILMINGTON (company) — Business Address City
• 01887 (company) — Business Address ZIP
• 7813294700 (company) — Business Phone

FAQ

Industry Context

Analog Devices operates in the semiconductor industry, a sector characterized by rapid technological advancements and cyclical demand.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the balance sheet and income statement for the quarter ending February 3, 2024.
2. Review any disclosures regarding changes in accounting policies or significant business events.
3. Compare key financial metrics to previous periods to identify trends.

Key Dates

• 2024-02-03: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-02-21: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending February 3, 2024. Previous period data is referenced for context.

Key Financial Figures

• $0.16 — hange on which registered Common Stock $0.16 2/3 par value per share ADI Nasdaq Glob

Filing Documents

• adi-20240203.htm (10-Q) — 867KB
• exhibit101-formofglobalnqa.htm (EX-10.1) — 271KB
• exhibit102-formofglobalrsu.htm (EX-10.2) — 296KB
• exhibit103-formofglobalnqa.htm (EX-10.3) — 280KB
• exhibit104-formofglobalrsu.htm (EX-10.4) — 312KB
• exhibit105-directorannualr.htm (EX-10.5) — 82KB
• exhibit106-formoffinancial.htm (EX-10.6) — 318KB
• exhibit107-formofperforman.htm (EX-10.7) — 313KB
• exhibit108-puccioofferlett.htm (EX-10.8) — 21KB
• a1q24exhibit311.htm (EX-31.1) — 11KB
• a1q24exhibit312.htm (EX-31.2) — 10KB
• a1q24exhibit321.htm (EX-32.1) — 5KB
• a1q24exhibit322.htm (EX-32.2) — 5KB
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• image_63.jpg (GRAPHIC) — 38KB
• 0000006281-24-000034.txt (&nbsp;) — 7550KB
• adi-20240203.xsd (EX-101.SCH) — 27KB
• adi-20240203_cal.xml (EX-101.CAL) — 57KB
• adi-20240203_def.xml (EX-101.DEF) — 118KB
• adi-20240203_lab.xml (EX-101.LAB) — 468KB
• adi-20240203_pre.xml (EX-101.PRE) — 286KB
• adi-20240203_htm.xml (XML) — 767KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements ANALOG DEVICES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (in thousands, except per share amounts) Three Months Ended February 3, 2024 January 28, 2023 Revenue $ 2,512,704 $ 3,249,630 Cost of sales 1,038,763 1,125,289 Gross margin 1,473,941 2,124,341 Operating expenses: Research and development 391,427 414,095 Selling, marketing, general and administrative 290,078 326,284 Amortization of intangibles 190,332 253,142 Special charges, net 16,140 — Total operating expenses 887,977 993,521 Operating income: 585,964 1,130,820 Nonoperating expense (income): Interest expense 77,141 60,453 Interest income ( 9,169 ) ( 10,829 ) Other, net 4,574 7,723 Total nonoperating expense (income) 72,546 57,347 Income before income taxes 513,418 1,073,473 Provision for income taxes 50,691 111,999 Net income $ 462,727 $ 961,474 Shares used to compute earnings per common share – basic 495,765 507,121 Shares used to compute earnings per common share – diluted 498,741 511,184 Basic earnings per common share $ 0.93 $ 1.90 Diluted earnings per common share $ 0.93 $ 1.88 See accompanying notes. 1 ANALOG DEVICES, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (in thousands) Three Months Ended February 3, 2024 January 28, 2023 Net income $ 462,727 $ 961,474 Foreign currency translation adjustments 385 2,499 Change in fair value of derivative instruments designated as cash flow hedges, net 8,020 25,467 Changes in pension plans, net actuarial gain/loss and foreign currency translation adjustments, net ( 1,388 ) 452 Other comprehensive income 7,017 28,418 Comprehensive income $ 469,744 $ 989,892 See accompanying notes. 2 ANALOG DEVICES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except share and per share amounts) February 3, 2024 October 28, 2023 ASSETS Current Assets Cash and cash equivalents $ 1,303,560 $ 958,061 Accounts receivable

Management's Discussion and Analysis of Financial Conditio

ITEM 2. Management's Discussion and Analysis of Financial Conditio

View Full Filing

View this 10-Q filing on SEC EDGAR