Analog Devices, Inc. (NASDAQ:ADI) stock fell 1.41% (As on November 27, 11:35:49 AM UTC-4, Source: Google Finance) after the company posted lower profit and revenue in the fiscal fourth quarter, but beat Wall Street’s expectation on improving bookings in the period. The Wilmington, Mass., semiconductor company reported a profit of $478.1 million in the quarter ended Nov. 2, compared with a profit of $498.4 million a year earlier. The company said that bookings declined briefly during the third quarter, but picked up steadily throughout the fourth quarter, particularly in the automotive end market. Analog said it is cautiously optimistic that 2025 will be a growth year, despite the pace of the company’s recovery still being limited by macroeconomic uncertainty. Despite facing “unprecedented customer inventory headwinds” that led to a 23% YoY revenue decline for the full fiscal year 2024, Analog Devices maintained operating margins above 40%. The company reported full-year revenue of $9.43 billion and adjusted EPS of $6.38.

ADI in the fourth quarter of FY 24 has reported the earnings per share of 96 cents, beating the analysts’ estimates for the earnings per share of 84 cents, according to Analysts polled by FactSet. Stripping out certain one-time items, the company posted an adjusted profit of $1.67 a share, ahead of the $1.64 expected by analysts. The company had reported the adjusted revenue decline of 10 percent to $2.44 billion in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $2.41 billion. Industrial represented 44% of our fourth quarter revenue, finishing up 2% sequentially and down 21% year-over-year. Continued strength in AI-related test, aerospace, and defense and a return to sequential growth in automation more than offset slower end demand driven by a weaker macro backdrop. Communications represented 11% of the quarterly revenue, finishing up 4% sequentially and down 18% year-over-year. Stronger demand from data center customers for the optical solutions drove low double-digit sequential growth in the wireline business.

Additionally, ADI cash dividend of $0.92 per share, payable on December 20, 2024, to shareholders of record as of December 9, 2024.

Analog said it expects revenue of $2.25 billion to $2.45 billion in the first quarter of fiscal 2025. Analysts expect $2.34 billion in revenue. The company expects to report an adjusted profit of $1.43 to $1.63 a share in the first quarter, compared with the $1.55 seen by analysts.