Why Analog Devices Shares Are Trading Higher Today

Analog Devices, Inc. ADI shares are trading higher by 5% at $167.18 per share on Tuesday after the company reported better-than-expected fourth-quarter financial results.

Analog Devices reported quarterly earnings of $2.73 per share which beat the analyst consensus estimate of $2.58 and quarterly sales of $3.25 billion which beat the analyst consensus estimate of $3.15 billion.

The company also issued first-quarter earnings per share guidance in the range of $2.50 and $2.70, which is above analyst estimates of $2.41 and sales guidance in the range of $3.05 billion and $3.25 billion, which is above analyst estimates of $3.04 billion.

Analog Devices, Inc. designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies.

According to data from Benzinga Pro, the stock has a 52-week high of $188.20 and a 52-week low of $133.48.