Analog Devices, Inc. (NASDAQ:ADI) – Equities research analysts at KeyCorp upped their Q2 2021 earnings per share estimates for Analog Devices in a research note issued on Tuesday, March 30th. KeyCorp analyst J. Vinh now anticipates that the semiconductor company will post earnings per share of $1.50 for the quarter, up from their previous forecast of $1.46. KeyCorp has a “Overweight” rating and a $175.00 price objective on the stock. KeyCorp also issued estimates for Analog Devices’ Q3 2021 earnings at $1.61 EPS, Q4 2021 earnings at $1.69 EPS, FY2021 earnings at $6.24 EPS, Q1 2022 earnings at $1.67 EPS, Q2 2022 earnings at $1.71 EPS, Q3 2022 earnings at $1.75 EPS, Q4 2022 earnings at $1.76 EPS and FY2022 earnings at $6.89 EPS.
ADI has been the subject of several other reports. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $172.00 price objective for the company in a research note on Monday, February 22nd. Barclays raised their price objective on Analog Devices from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Oppenheimer reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Analog Devices in a research note on Thursday, February 11th. Raymond James increased their price target on Analog Devices from $160.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, February 25th. Finally, Credit Suisse Group increased their price target on Analog Devices from $165.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, February 18th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $157.92.
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NASDAQ:ADI opened at $152.61 on Wednesday. The firm has a market capitalization of $56.30 billion, a price-to-earnings ratio of 46.53, a PEG ratio of 2.26 and a beta of 1.31. Analog Devices has a 1 year low of $82.90 and a 1 year high of $164.40. The business has a 50 day simple moving average of $154.38 and a 200-day simple moving average of $140.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 1.40. Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, February 16th. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.51 billion. Analog Devices had a return on equity of 15.51% and a net margin of 21.79%. During the same period last year, the company earned $1.03 EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in ADI. Norges Bank bought a new stake in Analog Devices during the 4th quarter valued at $574,864,000. Price T Rowe Associates Inc. MD boosted its position in shares of Analog Devices by 68.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,345,668 shares of the semiconductor company’s stock worth $641,986,000 after purchasing an additional 1,761,299 shares in the last quarter. FMR LLC boosted its position in shares of Analog Devices by 21.0% in the 4th quarter. FMR LLC now owns 6,370,184 shares of the semiconductor company’s stock worth $941,067,000 after purchasing an additional 1,104,853 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Analog Devices by 35.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,021,801 shares of the semiconductor company’s stock worth $446,410,000 after purchasing an additional 795,033 shares in the last quarter. Finally, Egerton Capital UK LLP acquired a new stake in shares of Analog Devices in the 4th quarter worth $116,175,000. 91.90% of the stock is currently owned by institutional investors and hedge funds.
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, February 1st. The stock was sold at an average price of $148.34, for a total transaction of $1,483,400.00. Following the sale, the chief executive officer now owns 16,957 shares of the company’s stock, valued at approximately $2,515,401.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Steve Pietkiewicz sold 1,750 shares of the stock in a transaction on Wednesday, January 6th. The shares were sold at an average price of $150.85, for a total value of $263,987.50. Following the sale, the senior vice president now directly owns 30,312 shares in the company, valued at approximately $4,572,565.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,881 shares of company stock worth $5,495,607 over the last 90 days. 0.42% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 9th. Shareholders of record on Friday, February 26th were issued a dividend of $0.69 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.62. This represents a $2.76 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Thursday, February 25th. Analog Devices’s dividend payout ratio (DPR) is presently 56.21%.
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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