Analog Devices (NASDAQ:ADI) Posts Earnings Results, Beats Expectations By $0.09 EPS

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.

(Ad)

Pot stocks are riding a massive election high right now, and it’s not too late to take advantage of it. There are still rumblings about this medical cannabis disruptor that has a production cost of 50% less than their competitors….

And that means more profits.

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.

Recommended Story: Oversold

Earnings History for Analog Devices (NASDAQ:ADI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is dollar cost averaging (DCA)?

7 Cryptocurrencies That Are Leading The Market Higher

An Influx Of Capital Is Driving Cryptocurrency Higher

There is an influx of money to the cryptocurrency market that is driving the entire complex higher. Not only is institutional interest peaking but recognition and use are on the rise as well. With Bitcoin setting new all-time highs 100% above the 2017 highs the number of new Bitcoin millionaires is on the rise too.

But Bitcoin is not the only cryptocurrency on the market today by far. The number of cryptocurrencies on the market has been growing steadily with more than 4,000 listed on Coinmarketcap alone. But that doesn’t mean they are all worth your time. Many if not most will not stand the test of time.

One way to judge the market’s interest in a cryptocurrency is its market performance gains. A cryptocurrency that is gaining in value is certainly one that you may want to own. The better method of judging the market’s interest in a cryptocurrency is the market cap. The cryptocurrency market is worth upwards of $1 trillion and growing, and most of that value is centered in the top seven. Together, the bottom 3,993 odd cryptocurrencies only account for 12% of the market and have yet to prove any lasting value.

View the “7 Cryptocurrencies That Are Leading The Market Higher”.

Leave a Comment

Scroll to Top
Malcare WordPress Security