Analog Devices reported Q3 FY2024 revenue of $2.31B, exceeding guided midpoint but down 25% YoY, with sequential growth in Industrial, Consumer, and Communications segments. Operating margin was 21.2%, while adjusted operating margin reached 41.2%. The company generated $855M in operating cash flow and returned $574M to shareholders through dividends and share repurchases.Improved customer inventory levels and order momentum across most markets position ADI for sequential growth in Q4, signaling potential recovery from cycle trough. However, management notes that economic and geopolitical uncertainties continue to limit recovery pace. For Q4 FY2024, ADI forecasts revenue of $2.4B ±$100M with adjusted operating margin of approximately 41%.The company declared a quarterly cash dividend of $0.92 per share, payable on September 17, 2024, to shareholders of record as of September 3, 2024. On a trailing twelve-month basis, ADI generated $4.0B in operating cash flow and $2.9B in free cash flow, representing 41% and 30% of revenue respectively.

Analog Devices reported Q3 FY2024 revenue of $2.31B, exceeding guided midpoint but down 25% YoY, with sequential growth in Industrial, Consumer, and Communications segments. Operating margin was 21.2%, while adjusted operating margin reached 41.2%. The company generated $855M in operating cash flow and returned $574M to shareholders through dividends and share repurchases.Improved customer inventory levels and order momentum across most markets position ADI for sequential growth in Q4, signaling potential recovery from cycle trough. However, management notes that economic and geopolitical uncertainties continue to limit recovery pace. For Q4 FY2024, ADI forecasts revenue of $2.4B ±$100M with adjusted operating margin of approximately 41%.The company declared a quarterly cash dividend of $0.92 per share, payable on September 17, 2024, to shareholders of record as of September 3, 2024. On a trailing twelve-month basis, ADI generated $4.0B in operating cash flow and $2.9B in free cash flow, representing 41% and 30% of revenue respectively.