ADI - Analog Devices Inc. (ADI) Bernstein 40th Annual Strategic Decisions Conference (Transcript)
2024-05-29 17:54:43 ET
Analog Devices, Inc. (ADI)
Bernstein 40th Annual Strategic Decisions Conference
May 29, 2024 10:00 AM ET
Company Participants
Michael Lucarelli - VP, IR & FP&A
Richard Puccio - Executive VP & CFO
Conference Call Participants
Stacy Rasgon - Bernstein
Presentation
Stacy Rasgon
I guess, we'll get started. Good morning, everyone. Thank you for coming. I'm Stacy Rasgon. I cover the U.S. semiconductor sector here at Bernstein. And it's my honor today to introduce our guests, Rich Puccio, the CFO of Analog Devices; and Mike Lucarelli, Head of IR.
Before I start, I want to mention, if you have questions that you'd like to ask during the presentation, you should have a link to our Pigeonhole Forum, where you can submit them. We will have time for Q&A at the end. Now all the companies that I cover, ADI, I think, is one of the most respected. It's got an extremely high-quality franchise in the analog space, particularly as it relates to signal conversion and processing.
Over the last decade or so they've embarked on a rationalization program, and they're sort of enjoying the fruits of that now, but they've rationalized their product portfolio, manufacturing footprints. They were smart enough years ago to exit mobile early enough to actually get paid to do it. I think you're one of the only ones that ever managed to do that.
Increasingly focused product offerings and high-value applications, whatever the end market and focus on new end markets, automotive, health care, many and many others. They've not been shy to take advantage of inorganic opportunities to boost the franchising growth potential. And they've now embarked on the regime of significantly more aggressive capital return than what we saw in years past.
And to talk about all of this, it gives me a great pleasure to welcome our guest today. Thank you so much for coming today, guys.
Richard Puccio
Thanks for having us, Stacy.
Stacy Rasgon
So this is Rich's first fireside, so I promised to go easy. So maybe just to start, you've been on the job, three months, right? I guess…
Richard Puccio
Actually, almost four.
Question-and-Answer Session
Q - Stacy Rasgon
Almost four. Okay. I mean I guess what attracted you to it and at this point, and I guess, what has surprised you, I guess, either positively or negatively now that you've been in the role for a few months?...
Analog Devices, Inc. (ADI) Bernstein 40th Annual Strategic Decisions Conference (Transcript)