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Analog Devices, Inc. announced financial results for its fiscal fourth quarter and fiscal year 2024, which ended November 2, 2024.
“ADI’s revenue, profitability, and earnings per share all finished above our guided midpoint, underscoring continued business momentum and solid execution,” said Vincent Roche, CEO and Chair. “While unprecedented customer inventory headwinds drove a historic revenue decline during fiscal 2024, we maintained operating margins north of 40%, which is a testament to our business model’s resilience. We also continued to make strategic, long-term investments across engineering, manufacturing, and the end-to-end customer experience. As such, we enter 2025 as an even stronger enterprise, giving me the utmost confidence in our ability to drive increased value for customers and shareholders over the long term.”
“After a brief decline in overall bookings during our third quarter, orders picked up steadily throughout the fourth quarter, particularly in the Automotive end market. While macro uncertainty continues to limit the pace of our recovery, we remain cautiously optimistic for a strong growth year in fiscal 2025,” said Richard Puccio, CFO.
Performance for the Fourth Quarter and Fiscal Year 2024 (PDF)
Outlook for the First Quarter of Fiscal Year 2025
For the first quarter of fiscal 2025, we are forecasting revenue of $2.35 billion, +/- $100 million. At the midpoint of this revenue outlook, we expect reported operating margin of approximately 22.0%, +/- 130 bps, and adjusted operating margin of approximately 40.0%, +/- 100 bps. We are planning for reported EPS to be $0.80, +/- $0.10, and adjusted EPS to be $1.53, +/- $0.10.
Our first quarter fiscal 2025 outlook is based on current expectations and actual results may differ materially as a result of, among other things, the important factors discussed at the end of this release. These statements supersede all prior statements regarding our business outlook set forth in prior ADI news releases, and ADI disclaims any obligation to update these forward-looking statements.
The adjusted results and adjusted anticipated results above are financial measures presented on a non-GAAP basis. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this release. See also the “Non-GAAP Financial Information” section for additional information.
Original – Analog Devices
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Valeo, a leading automotive technology company, and ROHM Semiconductor collaborate to propose and optimize the next generation of power modules for electric motor inverters using their combined expertise in power electronics management. As a first step, ROHM will provide its 2-in-1 Silicon Carbide (SiC) molded module TRCDRIVE pack™ to Valeo for future powertrain solutions.
Valeo is broadening access to efficient, electrified mobility across various vehicle types and markets from the smallest one (ebikes), through the mainstream (passenger cars) to the biggest one (eTrucks). By combining Valeo’s expertise in mechatronics, thermal management and software development with ROHM’s power modules, Valeo drives the power electronics solution forward, contributing to the performance, efficiency, and decarbonization of automotive systems worldwide.
Valeo and ROHM have been collaborating since 2022, initially focusing on technical exchanges aimed at improving the performance and efficiency of the motor inverter – a key component in the propulsion systems of electric vehicles (EVs) and plug-in hybrids (PHEVs). By refining power electronics, both companies aim to offer optimized cost/performance by delivering higher energy efficiency, reducing heat generation thanks to an optimized cooling and mechatronic integration, and increasing overall reliability with a SiC packaging.
“This partnership marks, for Valeo Power Division, a significant step forward in delivering advanced and high-efficient power electronics,” says Xavier DUPONT, Valeo Power Division CEO. “Together, we aim to set new industry standards for high voltage inverters and accelerate the transition towards more efficient and affordable electric mobility.”
“We are pleased to support Valeo, a renowned automotive supplier, with our power semiconductors. ROHM’s TRCDRIVE pack™ provides high power density, leading to an improved power efficiency. Together, we contribute to the development of highly efficient powertrains by fostering the collaboration with Valeo,” says Wolfram HARNACK, President ROHM Semiconductor GmbH.
These evolutions are all essential to supporting the growing demand for longer range, faster charging capabilities, and, overall a high-performance and an affordable inverter for BEVs and PHEVs.
Valeo will start supplying a first series project in early 2026. Valeo and ROHM will contribute to the improvement of efficiency and downsizing of Valeo’s next generation of xEV inverters.
Original – ROHM
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Wolfspeed announced that Melissa Garrett has been appointed Senior Vice President and General Counsel, effective December 9, 2024. Garrett succeeds Brad Kohn, who has resigned from the company for another professional opportunity.
Garrett brings extensive legal expertise and has served as a senior member of Wolfspeed’s legal team leading global employment and non-patent litigation matters since 2015. She brings a comprehensive legal background in contracts and negotiations, litigation management, corporate governance, employment law, policy and mergers and acquisitions.
“Melissa’s contributions to Wolfspeed over the last nine years have been highly valuable, and we are pleased to welcome her to the role of General Counsel,” said Tom Werner, Executive Chairman. “With her proven track record in legal, risk and compliance, coupled with her deep institutional knowledge of Wolfspeed, she is uniquely qualified to step into this role. We deeply appreciate Brad’s tireless advocacy for Wolfspeed over the years and thank him for his dedication and many contributions to the company. He and Melissa have been working closely on all key projects, so we expect a smooth transition and we wish him all the best in his future endeavors.”
Prior to joining Wolfspeed, Garrett served as Deputy General Counsel and Assistant Corporate Secretary at Kangaroo Express. She previously served as an attorney at Jackson Lewis and Paul, Hastings, Janofsky & Walker LLP, and began her career as an attorney at Fisher & Philips. She holds a Juris Doctor from Indiana University and a Bachelor of Arts from University of Wisconsin-Madison.
Original – Wolfspeed
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Navitas Semiconductor announced that the company’s revenue growth has been acknowledged for the third consecutive year, by Deloitte’s Technology Fast 500™. Navitas growth was driven by strong demand for its advanced, high-efficiency, wide-bandgap gallium nitride (GaN) and silicon carbide (SiC) power components, across a growing number of global markets and customers.
Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Based on percentage fiscal year revenue growth from 2020 to 2023, Navitas achieved 571% growth as GaN and SiC technology enabled efficient, sustainable applications and displaced legacy silicon chips.
“As a ‘pure-play’, next-gen, semiconductor company, Navitas continues to outperform the overall power semiconductor market, with record sales into mobile fast chargers, now ramping AI data center revenues and a strong customer pipeline for EV opportunities,” said Gene Sheridan, CEO and co-founder. “Recent introductions like GaNSafe™, Gen-3 ‘Fast’ SiC, and a newly-announced, 48V-focused range in partnership with Infineon, have built a strong foundation for further revenue growth in applications from 20W to 20MW, and with a market opportunity of over $22B per year.”
Original – Navitas Semiconductor
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Infineon Technologies AG introduced the EiceDRIVER™ Power 2EP1xxR family of full-bridge transformer drivers for IGBT, SiC and GaN gate driver power supplies. With the 2EP1xxR family, Infineon extends its portfolio of power devices to provide designers with a solution for isolated gate driver supply.
By using the devices, asymmetrical output voltages can be implemented to supply isolated gate drivers in a cost-effective and space-saving manner. This makes the 2EP1xxR particularly suitable for industrial or consumer applications requiring isolated gate drivers, including solar applications, electric vehicle charging, energy storage systems, welding, uninterruptible power supplies and drive applications.
The 2EP1xxR family comes in a compact TSSOP8 pin package with power integration and optimizations to generate an asymmetric output voltage. The family is optimized for asymmetric gate driver supply through its unique duty-cycle adjustment capability. The devices support a wide input voltage range up to 20 V. They also offer integrated temperature, short-circuit and undervoltage lockout (UVLO) protection to prevent unwanted system faults.
The 2EP1xxR family is available in the following four product variants: 2EP100R and 2EP101R are optimized for low component count designs for IGBT and SiC MOSFET gate driver power supplies. 2EP110R allows fine adjustment of the duty-cycle to match the output voltage ratio to the application requirements of SiC and GaN power switches. 2EP130R is optimized for highly flexible designs to meet different application requirements.
The device offers 5-stage overcurrent protection, 41 selectable switching frequencies or synchronization with external PWM for transformer matching, and 41 selectable duty-cycle options to adjust the output voltage.
Original – Infineon Technologies
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To provide higher efficiency and power density for telecom, industrial, and computing applications, Vishay Intertechnology, Inc. introduced a new 150 V TrenchFET® Gen V n-channel power MOSFET in the PowerPAK® SO-8S (QFN 6×5) package.
Compared to previous-generation devices in the PowerPAK SO-8, the Vishay Siliconix SiRS5700DP slashes overall on-resistance by 68.3% and on-resistance times gate charge — a key figure of merit (FOM) for MOSFETs used in power conversion applications — by 15.4% while providing 62.5% lower RthJC and 179 % higher continuous drain current.
With the industry’s lowest on-resistance of 5.6 mΩ at 10 V and on-resistance times gate charge FOM of 336 mΩ*nC, the device released today minimizes power losses from conduction. This allows designers to boost efficiency to meet next-generation power supply requirements, such as 6 kW AI server power systems. In addition, the extremely low 0.45 °C/W RthJC of the PowerPAK SO-8S package enables continuous drain current up to 144 A to increase power density while providing robust SOA capability.
The SiRS5700DP is ideal for synchronous rectification, DC/DC converters, hot swap switching, and OR-ing functionality. Typical applications will include servers, edge computing, super computers, and data storage; telecom power supplies; solar inverters; motor drives and power tools; and battery management systems. RoHS-compliant and halogen-free, the MOSFET is 100 % Rg and UIS tested and complies with IPC-9701 criteria for more reliable temperature cycling. The device’s standard 6 mm by 5 mm footprint is fully compatible with the PowerPAK SO-8 package.
Original – Vishay Intertechnology
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STMicroelectronics hosted its Capital Markets Day in Paris, France. Within the framework of an unchanged strategy, ST is reiterating its $20 billion plus revenue ambition and associated financial model, that it now expects to be reached by 2030. ST is also setting an intermediate financial model with revenues expected around $18 billion with an operating margin within a 22% to 24% range in 2027-2028.
With the execution of its manufacturing reshaping program and cost base resizing initiative, ST expects to exit 2027 with high triple-digit million-dollar savings compared to the current cost base. This will enable the company to reach an operating margin between 22 and 24% in 2027-2028.
ST’s value proposition remains focused on sustainable and profitable growth, providing differentiating enablers to customers with a strong commitment to sustainability. With its customers and partners, ST will continue to be a key actor of the transformation of all industries towards a smarter, safer and more sustainable future.
Original – STMicroelectronics
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Mitsubishi Electric Corporation announced that it will invest approximately 10 billion yen to construct a new facility for the assembly and inspection of power semiconductor modules at its Power Device Works in Fukuoka Prefecture, Japan. The plant, which was originally announced on March 14, 2023, is scheduled to begin operations in October 2026.
As the primary facility for assembling and inspecting power semiconductor modules, the plant will consolidate previously dispersed assembly and inspection production lines within the site to streamline production, from the incoming of components through manufacturing and final shipment. New systems will be implemented to automate the management of manufacturing processes and the transportation of products for improved productivity. In addition, the company’s integrated system covering everything from design, development and production technology verification to manufacturing will be strengthened to enhance product development.
Mitsubishi Electric expects the new plant to support its rapid and stable supply of products to meet market needs in response to the anticipated increases in demand for power semiconductors. As a result, the company envisions contributing to the energy efficiency of power-electronics devices in various applications, as well as the Green Transformation (GX).
In connection with the construction of the new plant, Fukuoka Prefecture has designated Mitsubishi Electric for the second time as a corporate entity of the Green Asia International Strategic Comprehensive Special Zone. By utilizing the preferential incentives of this special zone, Mitsubishi Electric will be able to strengthen the production capabilities of its Power Device Works’ new plant in Fukuoka Prefecture.
Original – Mitsubishi Electric
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GlobalFoundries (GF) and the U.S. Department of Commerce have announced an award of up to $1.5 billion in direct funding to GF through the CHIPS and Science Act. The award follows the previously signed preliminary memorandum of terms announced in February 2024 and will enable GF to expand its essential chip manufacturing and technology development in the U.S., strengthening supply chains and supporting customers across a range of vital end-markets including automotive, smart mobile devices, IoT, datacenters, and aerospace and defense.
“The idea of strengthening U.S. semiconductor manufacturing has been five-plus years in the making. With bipartisan support, that idea evolved into the CHIPS and Science Act,” said Dr. Thomas Caulfield, president and CEO of GF. “GF’s essential chips are at the core of U.S. economic, supply chain and national security. We greatly appreciate the support and funding from both the U.S. Government and the states of New York and Vermont, which we will use to ensure our customers have the American-made chips they need to succeed and win.”
GF’s CHIPS and Science Act award will support three projects:
- Expansion of GF’s existing Malta, New York, fab by adding critical technologies already in production at GF’s Singapore and Germany facilities, to enable a secure and reliable supply of domestically manufactured essential chips for the U.S. auto industry.
- Modernization and upgrading of GF’s existing fab in Essex Junction, Vermont, to expand production capacity and create one of the world’s leading facilities capable of high-volume manufacturing of next-generation gallium nitride (GaN) semiconductors for use in electric vehicles, data centers, IoT, smartphones and other critical applications.
- In alignment with market conditions and customer demand, construction of a new state-of-art fab on GF’s Malta, New York, campus to meet expected demand for U.S.-made essential chips across a broad range of markets and applications including automotive, AI in the data center and at the edge, as well as aerospace and defense.
The two New York-based projects are expected to triple the existing capacity of GF’s Malta campus over the next 10-plus years, in alignment with expected market requirements and customer demand. Construction of the new fab will leverage the GF site’s existing infrastructure and ecosystem, enabling a fast and efficient path from construction to production.
In aggregate, these projects represent more than $13 billion of investment over the next 10-plus years across GF’s two U.S. sites. This investment includes the $1.5 billion CHIPS and Science Act award, more than $550 million in support from the New York State Green CHIPS Program, as well as funding and support from Vermont, GF ecosystem partners and key strategic customers, and other incentives.
Combined, these investments are expected to create close to 1,000 direct manufacturing jobs and more than 9,000 construction jobs over the life of these projects.
GF’s fabs in New York and Vermont are both Trusted Foundry accredited and manufacture secure chips in partnership with the U.S. government.
As part of its CHIPS and Science Act award, to attract and cultivate a pipeline of semiconductor talent in New York and Vermont, GF will continue to invest in and develop new workforce development efforts including curriculum development, internship and apprenticeship programs, K-12 STEM outreach, as well as additional education and training programs.
Consistent with GF’s longstanding commitment to our communities and the environment, GF’s design and construction plans for its expansions and modernizations in New York and Vermont will reflect the company’s sustainability goals for future operations.
Original – GlobalFoundries
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Microchip Technology Incorporated announced that Ganesh Moorthy is retiring as Chief Executive Officer, President and as a member of the Board of Directors in connection with his 65th birthday at the end of November. The Board has appointed Steve Sanghi as interim Chief Executive Officer and President effective today. Mr. Sanghi will remain as Chair of the Board.
“On behalf of the entire Board, we thank Ganesh for his service to Microchip over the past 23 years and we wish him well with his retirement. He has been a key member of our management team and served in many important roles during his tenure at Microchip including serving as President and CEO for the last four years during a very tumultuous cycle in our industry,” said Steve Sanghi.
Mr. Sanghi continued “I look forward to serving again as CEO and President to lead Microchip through this industry downturn and return the company to growth in revenue and profitability and enhance stockholder value.”
Original – Microchip Technology
