Equities analysts predict that Analog Devices, Inc. (NASDAQ:ADI) will post $1.60 billion in sales for the current quarter, Zacks reports. Ten analysts have made estimates for Analog Devices’ earnings, with the lowest sales estimate coming in at $1.60 billion and the highest estimate coming in at $1.63 billion. Analog Devices reported sales of $1.32 billion in the same quarter last year, which would suggest a positive year over year growth rate of 21.2%. The company is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, May 19th.
According to Zacks, analysts expect that Analog Devices will report full-year sales of $6.49 billion for the current financial year, with estimates ranging from $6.39 billion to $6.61 billion. For the next financial year, analysts forecast that the firm will post sales of $6.90 billion, with estimates ranging from $6.73 billion to $7.14 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Analog Devices.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, February 16th. The semiconductor company reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.12. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the firm posted $1.03 EPS.
Several research firms have issued reports on ADI. Argus raised their price target on shares of Analog Devices from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 19th. Piper Sandler raised their target price on shares of Analog Devices from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, February 25th. Raymond James raised their target price on shares of Analog Devices from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, February 25th. Royal Bank of Canada raised their target price on shares of Analog Devices from $174.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 16th. Finally, Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $172.00 target price on the stock in a research report on Monday, February 22nd. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $157.92.
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Analog Devices stock opened at $148.10 on Tuesday. Analog Devices has a 12-month low of $104.57 and a 12-month high of $164.40. The stock has a market capitalization of $54.63 billion, a P/E ratio of 45.15, a P/E/G ratio of 2.26 and a beta of 1.31. The firm’s 50-day moving average is $156.61 and its two-hundred day moving average is $149.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 1.40.
In other news, CAO Michael Sondel sold 2,210 shares of the business’s stock in a transaction on Friday, February 19th. The shares were sold at an average price of $163.79, for a total transaction of $361,975.90. Also, SVP Gregory N. Henderson sold 6,058 shares of the company’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $162.16, for a total transaction of $982,365.28. Following the completion of the sale, the senior vice president now directly owns 11,884 shares in the company, valued at $1,927,109.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,396 shares of company stock worth $8,385,638. Corporate insiders own 0.42% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ADI. BKD Wealth Advisors LLC raised its holdings in shares of Analog Devices by 0.9% during the fourth quarter. BKD Wealth Advisors LLC now owns 7,137 shares of the semiconductor company’s stock worth $1,054,000 after purchasing an additional 65 shares during the period. Wade G W & Inc. raised its holdings in shares of Analog Devices by 4.6% during the first quarter. Wade G W & Inc. now owns 1,465 shares of the semiconductor company’s stock worth $227,000 after purchasing an additional 65 shares during the period. CX Institutional raised its holdings in shares of Analog Devices by 3.2% during the first quarter. CX Institutional now owns 2,132 shares of the semiconductor company’s stock worth $331,000 after purchasing an additional 66 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Analog Devices by 6.2% during the first quarter. Lindbrook Capital LLC now owns 1,138 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 66 shares during the period. Finally, Sowell Financial Services LLC raised its holdings in shares of Analog Devices by 22.0% during the fourth quarter. Sowell Financial Services LLC now owns 371 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 67 shares during the period. 91.90% of the stock is currently owned by hedge funds and other institutional investors.
About Analog Devices
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.
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