Analog Devices (NASDAQ:ADI) announced its quarterly earnings data on Wednesday. The semiconductor company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.09, MarketWatch Earnings reports. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the company posted $1.08 earnings per share. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. Analog Devices updated its Q3 guidance to $1.50-1.72 EPS and its Q3 2021 guidance to 1.500-1.720 EPS.
NASDAQ ADI traded up $5.58 during trading hours on Wednesday, hitting $151.47. 358,415 shares of the company’s stock were exchanged, compared to its average volume of 3,164,340. The firm has a market cap of $55.88 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 2.26 and a beta of 1.31. The stock has a 50-day simple moving average of $156.43 and a 200 day simple moving average of $149.71. The company has a current ratio of 1.84, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43. Analog Devices has a 1-year low of $106.11 and a 1-year high of $164.40.
A number of equities research analysts have recently weighed in on ADI shares. Raymond James raised their price target on shares of Analog Devices from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, February 25th. 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 note on Monday, February 22nd. Piper Sandler increased their price target on Analog Devices from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, February 25th. BMO Capital Markets upped their target price on Analog Devices from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, February 16th. Finally, Royal Bank of Canada increased their target price on Analog Devices from $174.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, February 16th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $157.92.
In other news, CAO Michael Sondel sold 2,210 shares of the business’s stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $163.79, for a total transaction of $361,975.90. Also, SVP Martin Cotter sold 1,557 shares of the company’s stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $150.42, for a total value of $234,203.94. Following the transaction, the senior vice president now directly owns 7,064 shares in the company, valued at $1,062,566.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,396 shares of company stock valued at $8,385,638. Insiders own 0.42% of the company’s stock.
A hedge fund recently bought a new stake in Analog Devices stock. Camden National Bank bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,670 shares of the semiconductor company’s stock, valued at approximately $247,000. 91.90% of the stock is owned by institutional investors and hedge funds.
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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