Analog Devices (ADI) Stock Up in After-Hours Trading on Earnings Beat

NEW YORK (TheStreet) -- Shares of Analog Devices (ADI) are up by 0.47% to $63.75 in after-hours trading on Tuesday, after having reported better than expected earnings for the 2015 second quarter, which also improved when compared to the same period in the previous year.

For the most recent quarter the mixed-signal and digital signal processing integrated circuits maker said its non-GAAP earnings were 73 cents per share versus the 72 cents per share analysts had forecast.

In the 2014 second quarter the company reported non-GAAP earnings of 59 cents per share.

Analog's revenue of $821 million grew by 18% year-over-year and was just above the $820.37 million analysts were looking for.

"We had a very successful second quarter driven by the quality of our innovation, the diversity of our business, and our strong execution," company CEO Vincent Roche said in the company's earnings release.

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:

"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 revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, increase in net income and good cash flow from operations. 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 Ratings Report

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