The company announced that its board of directors declared a cash dividend of $0.40 per outstanding share of common stock, payable June 9, to shareholders of record on May 29.
To end the fiscal second quarter, Analog Devices recorded cash and short-term investments of $3.07 billion, compared to $2.87 billion at the end of the fiscal first quarter and $4.81 billion in the second quarter of fiscal 2014.
Vincent Roche, president and CEO of Analog Devices, said:
We had a very successful second quarter driven by the quality of our innovation, the diversity of our business, and our strong execution. Revenue increased to a record $821 million, and our operating model generated strong cash flows and diluted earnings per share growth that was well ahead of revenue growth.
He continued to explain the company’s outlook for the next quarter:
Looking ahead, our book to bill ratio was positive in the second quarter and we are seeing stable order rates across all our end markets. As a result, we are planning for sequential growth in the third quarter and for revenue to be in the range of $825 million to $865 million.
At the same time, the company expects EPS in the range of $0.71 to $0.77. There are consensus estimates for the fiscal third quarter of $0.77 in EPS on $845.84 million in revenue.
So far shares are up about 15% year to date. They also trade at 21.7 times earnings of the 2015 fiscal year.
Shares of Analog Devices closed Tuesday up barely 0.2% at $63.46. After earnings were released, shares were initially down 0.5% at $63.12 in after-hours trading. The stock has a consensus analyst price target of $62.64 and a 52-week trading range of $42.57 to $64.94.
ALSO READ: States Where the Most (and Least) People Work for the Government
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
