Analog Devices (NASDAQ:ADI) updated its third quarter 2021 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.500-1.720 for the period, compared to the Thomson Reuters consensus estimate of $1.530. The company issued revenue guidance of $1.63 billion-$1.77 billion, compared to the consensus revenue estimate of $1.65 billion.Analog Devices also updated its Q3 guidance to $1.50-1.72 EPS.
Several brokerages recently weighed in on ADI. Oppenheimer reaffirmed a buy rating and issued a $175.00 target price on shares of Analog Devices in a research report on Thursday, February 11th. Piper Sandler raised their price objective on Analog Devices from $150.00 to $180.00 and gave the company an overweight rating in a research report on Thursday, February 25th. Raymond James raised their price objective on Analog Devices from $160.00 to $185.00 and gave the company an outperform rating in a research report on Thursday, February 25th. Credit Suisse Group raised their price objective on Analog Devices from $165.00 to $200.00 and gave the company an outperform rating in a research report on Thursday, February 18th. Finally, Barclays raised their price objective on Analog Devices from $150.00 to $170.00 and gave the company an overweight rating in a research report on Tuesday, January 26th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $157.92.
ADI stock traded up $6.55 during midday trading on Wednesday, reaching $152.44. The company had a trading volume of 518,005 shares, compared to its average volume of 3,164,340. The company has a quick ratio of 1.40, a current ratio of 1.84 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average price of $156.43 and a 200 day moving average price of $149.71. Analog Devices has a fifty-two week low of $106.11 and a fifty-two week high of $164.40. The firm has a market capitalization of $56.23 billion, a PE ratio of 46.41, a P/E/G ratio of 2.26 and a beta of 1.31.
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Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 19th. The semiconductor company reported $1.54 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.09. Analog Devices had a return on equity of 15.51% and a net margin of 21.79%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. Analog Devices’s quarterly revenue was up 26.1% compared to the same quarter last year. Research analysts predict that Analog Devices will post 5.69 EPS for the current year.
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 business’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 owns 7,064 shares of the company’s stock, valued at $1,062,566.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,396 shares of company stock valued at $8,385,638. 0.42% of the stock is currently owned by insiders.
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) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,670 shares of the semiconductor company’s stock, valued at approximately $247,000. Institutional investors and hedge funds own 91.90% of the company’s stock.
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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