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NEW YORK (TheStreet) -- Analog Devices  (ADI) - Get Analog Devices, Inc. Report stock is surging by 4.20% to $59.19 at the start of trading on Tuesday morning, after the company's fiscal 2015 fourth quarter earnings results beat analysts' expectations. 

The Norwood, MA-based chipmaker reported adjusted earnings of $1.03 per share. Revenue increased 20% year-over-year to $979 million.

Analysts were expecting earnings of 83 cents per share on revenue of $910 million for the latest quarter.

"We had another record quarter with revenue and earnings that exceeded the high end of our guidance range," CEO Vincent Roche said in a statement. "Our strategy to leverage technology platforms that sense, measure, and connect real-world phenomena across a diversity of applications once again produced excellent results."

The company is expecting seasonally slower fiscal 2016 first quarter revenue in the range of $805 million to $855 million.

Separately, TheStreet Ratings team rates ANALOG DEVICES as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

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TheStreet Recommends

We rate ANALOG DEVICES (ADI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, increase in net income and growth in earnings per share. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.

You can view the full analysis from the report here: ADI

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.