Analog Devices, Inc. (NASDAQ:ADI) announced the acquisition of SNAP Sensor SA, a privately held company based in Switzerland that specializes in highly innovative vision sensing technologies. The acquisition will advance Analog Devices’ leadership position in sensing and signal processing and build upon platform-level Internet of Things (IoT) solutions such as ADI’s award-winning Blackfin Low Power Imaging Platform (BLiP).
SNAP Sensor’s patented technology offers significant improvements to existing optical sensors by ensuring accurate image detection in challenging lighting conditions. It drastically improves sensing reliability and accuracy in a range of detection, identification, and guidance uses. In addition, much of the image management is performed on the sensor, enabling the use of affordable and lower power processors.
“SNAP Sensor’s cutting-edge optical technology and vision software and algorithm expertise allow us to continue unlocking new possibilities for our customers in a wide range of IoT applications such as building automation, building security, city management, transportation, and more,” said Michael Murray, general manager of Industrial Sensing, Analog Devices. “This acquisition further enhances our sensing portfolio and ensures that we’re helping customers realize the best possible outcomes from IoT solutions.”
The SNAP Sensor team will remain in Switzerland to establish a new Analog Devices R&D center and continue its close collaboration with the Swiss research and technology organization. “Our team is very enthusiastic about joining Analog Devices,” said Pascal Dorster, CEO of SNAP Sensor. “This provides us access to the engineering, supply-chain, and commercialization resources needed to accelerate our growth and continue advancing our technology vision.”
Analog Devices Equity Analysis
Analog Devices, Inc. (NASDAQ:ADI) opened trading today as $58.82 and is trading in the range of 58.74-59.64 today. Analog Devices’ current market cap stands at $18.24 billion.
Compared to other peers in the Semiconductor Integrated Circuits sector, Analog Devices hasn’t performed in terms of quarterly revenue growth year over year at -0.00 vs. the industry average of 0.13.
Analog Devices is currently covered by 30 Wall Street analysts. The mean target price is $59.00 according to First Call. This presents a solid upside to the current price of the equity. The Mean Recommendation sits at 2.1 which is based on 8 Strong Buy, 9 Buy and 13 Hold ratings.
The most recent analyst actions consisted of Drexel Hamilton initiating the stock on March 2nd.
The current quarter EPS consensus estimate is .62 with revenue estimates of 777.57M. Sales are expected to drop at a 5.30% rate. Analog Devices reported actual earnings last quarter of 0.56 which beats the .53 consensus estimate, a 5.70% surprise.
Analog Devices, Inc. engages in the design, manufacture, and marketing of analog, mixed-signal, and digital signal processing integrated circuits (ICs) for use in industrial, automotive, consumer, and communication markets worldwide. It offers signal processing products that convert, condition, and process real-world phenomena, such as temperature, pressure, sound, light, speed, and motion into electrical signals. The companys products include data converters, which translate real-world analog signals into digital data and translate digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure. It also offers micro-electro mechanical systems technology based sensors, including accelerometers to sense acceleration, gyroscopes to sense rotation, and inertial measurement units to sense multiple degrees of freedom. In addition, the company provides isolators for various applications, such as universal serial bus isolation in patient monitors, smart metering applications, and satellites; power management and reference products for power conversion, driver monitoring, sequencing, and energy management; and digital signal processing products for high-speed numeric calculations. Its products are used in electronic equipment, including industrial process control, factory automation, instrumentation and measurement, energy management, and optical systems, as well as aerospace and defense electronics, automobiles, medical imaging equipment, patient monitoring devices, wireless infrastructure equipment, networking equipment, digital cameras, and portable electronic devices.