Analysts forecast that Analog Devices, Inc. (NASDAQ:ADI) will announce $1.71 billion in sales for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Analog Devices’ earnings, with the lowest sales estimate coming in at $1.70 billion and the highest estimate coming in at $1.77 billion. Analog Devices posted sales of $1.46 billion in the same quarter last year, which would indicate a positive year over year growth rate of 17.1%. The firm is expected to issue its next earnings results before the market opens on Wednesday, August 18th.
On average, analysts expect that Analog Devices will report full-year sales of $6.67 billion for the current financial year, with estimates ranging from $6.60 billion to $6.81 billion. For the next financial year, analysts anticipate that the business will post sales of $7.12 billion, with estimates ranging from $6.73 billion to $7.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Analog Devices.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, May 18th. The semiconductor company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.60 billion. Analog Devices had a net margin of 25.16% and a return on equity of 17.91%. The business’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period last year, the business posted $1.08 earnings per share.
ADI has been the subject of several research reports. Bank of America increased their price objective on shares of Analog Devices from $178.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, June 25th. Stifel Nicolaus increased their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, July 15th. Sanford C. Bernstein raised shares of Analog Devices from a “market perform” rating to an “outperform” rating and raised their target price for the company from $165.00 to $185.00 in a research report on Thursday, May 20th. Truist Securities decreased their target price on shares of Analog Devices from $183.00 to $179.00 and set a “buy” rating for the company in a research report on Thursday, May 20th. Finally, Needham & Company LLC started coverage on shares of Analog Devices in a research report on Thursday, June 24th. They issued a “buy” rating and a $195.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Analog Devices presently has an average rating of “Buy” and an average target price of $175.17.
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In other Analog Devices news, SVP Gregory N. Henderson sold 6,078 shares of the stock in a transaction dated Tuesday, June 15th. The shares were sold at an average price of $168.43, for a total transaction of $1,023,717.54. Following the completion of the transaction, the senior vice president now owns 11,925 shares of the company’s stock, valued at approximately $2,008,527.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, June 1st. The shares were sold at an average price of $164.20, for a total transaction of $1,642,000.00. Following the transaction, the chief executive officer now directly owns 29,428 shares of the company’s stock, valued at approximately $4,832,077.60. The disclosure for this sale can be found here. In the last three months, insiders sold 22,828 shares of company stock worth $3,780,683. 0.91% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Theleme Partners LLP acquired a new position in Analog Devices during the 1st quarter valued at about $178,032,000. Amundi Asset Management US Inc. raised its stake in shares of Analog Devices by 29.0% in the first quarter. Amundi Asset Management US Inc. now owns 3,897,467 shares of the semiconductor company’s stock worth $604,419,000 after purchasing an additional 875,666 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in Analog Devices by 35.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,021,801 shares of the semiconductor company’s stock worth $446,410,000 after acquiring an additional 795,033 shares during the period. Korea Investment CORP grew its holdings in Analog Devices by 96.2% during the first quarter. Korea Investment CORP now owns 1,192,479 shares of the semiconductor company’s stock worth $184,930,000 after acquiring an additional 584,686 shares during the period. Finally, Credit Suisse AG grew its holdings in Analog Devices by 62.6% during the first quarter. Credit Suisse AG now owns 1,352,901 shares of the semiconductor company’s stock worth $209,807,000 after acquiring an additional 520,646 shares during the period. 95.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of ADI stock opened at $168.68 on Wednesday. The stock’s fifty day moving average is $165.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.05 and a quick ratio of 0.81. Analog Devices has a 12-month low of $110.66 and a 12-month high of $172.45. The company has a market capitalization of $62.21 billion, a P/E ratio of 40.26, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 8th. Stockholders of record on Friday, May 28th were paid a $0.69 dividend. The ex-dividend date of this dividend was Thursday, May 27th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.64%. Analog Devices’s dividend payout ratio is presently 56.21%.
Analog Devices Company Profile
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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