ADI Reports Solid Fiscal 3Q Results as Apple's Chip Demand Ramps Up; Maintain $61 FVE
Analog Devices reported fiscal third-quarter results and provided investors with a fourth-quarter outlook; both were modestly ahead of our prior expectations, but not enough to move the needle on our $61 fair value estimate. Analog chip demand still appears solid for ADI, while large consumer-related orders from Apple will continue to drive near-term top-line volatility. Our long-term thesis for ADI is unchanged, and we maintain our wide moat rating.Revenue in the July quarter was $870 million...
Analog Devices is an analog technology company. The company designs, manufactures, and markets a portfolio of solutions, including integrated circuits, algorithms, software, and subsystems. The company's analog products include data converter that translate real-world analog signals into digital data and also translate digital data into analog signals, amplifiers that condition analog signals, and power management and reference products that include functions such as power conversion, driver monitoring, sequencing and energy management. The company's digital signal processing products are designed to execute software programs, or algorithms, associated with processing digitized real-time, real-world data.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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