Analog Devices, Inc. (NASDAQ:ADI) – Piper Sandler upped their Q3 2021 earnings estimates for Analog Devices in a report released on Wednesday, May 19th. Piper Sandler analyst H. Kumar now anticipates that the semiconductor company will post earnings per share of $1.61 for the quarter, up from their prior estimate of $1.48. Piper Sandler currently has a “Overweight” rating and a $180.00 price objective on the stock. Piper Sandler also issued estimates for Analog Devices’ Q4 2021 earnings at $1.69 EPS, FY2021 earnings at $6.27 EPS, Q1 2022 earnings at $1.65 EPS, Q2 2022 earnings at $1.70 EPS, Q3 2022 earnings at $1.67 EPS, Q4 2022 earnings at $1.71 EPS and FY2022 earnings at $6.73 EPS. Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, May 18th. The semiconductor company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.45 by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.60 billion. Analog Devices had a return on equity of 15.51% and a net margin of 21.79%. Analog Devices’s revenue was up 26.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS.
Other research analysts also recently issued research reports about the stock. Raymond James increased their price target on shares of Analog Devices from $160.00 to $185.00 and gave the company an “outperform” rating in a report 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 report on Monday, February 22nd. Argus raised their target price on shares of Analog Devices from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 19th. Sanford C. Bernstein raised shares of Analog Devices from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $165.00 to $185.00 in a report on Thursday. Finally, BMO Capital Markets lifted their price objective on shares of Analog Devices from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, February 16th. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $160.35.
The increase in the number of states that permit recreational and medical use of cannabis means that growers, processors and manufacturers of cannabis products often can’t keep up with growing demand. One Seattle weed manufacturer is poised to sell products across state lines, easing shortages. This could drive the company’s shares sky-high.
Shares of ADI stock opened at $159.47 on Friday. The stock has a fifty day simple moving average of $156.28 and a two-hundred day simple moving average of $150.02. Analog Devices has a 52-week low of $109.52 and a 52-week high of $164.40. The firm has a market capitalization of $58.83 billion, a PE ratio of 48.62, a PEG ratio of 2.26 and a beta of 1.31. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.40 and a current ratio of 1.84.
Hedge funds have recently bought and sold shares of the stock. Sowell Financial Services LLC lifted its holdings in Analog Devices by 22.0% in the 4th quarter. Sowell Financial Services LLC now owns 371 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 67 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of Analog Devices by 3.3% during the 4th quarter. DNB Asset Management AS now owns 44,859 shares of the semiconductor company’s stock valued at $6,627,000 after acquiring an additional 1,428 shares in the last quarter. Mission Wealth Management LP raised its stake in shares of Analog Devices by 6.7% during the 4th quarter. Mission Wealth Management LP now owns 1,965 shares of the semiconductor company’s stock worth $290,000 after purchasing an additional 124 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Analog Devices by 130.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,601 shares of the semiconductor company’s stock valued at $384,000 after acquiring an additional 1,470 shares during the last quarter. Finally, JustInvest LLC increased its position in Analog Devices by 6.2% during the fourth quarter. JustInvest LLC now owns 5,292 shares of the semiconductor company’s stock worth $782,000 after buying an additional 311 shares during the last quarter. 91.90% of the stock is owned by institutional investors and hedge funds.
In other Analog Devices news, SVP Gregory N. Henderson sold 6,058 shares of the business’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $162.16, for a total transaction of $982,365.28. Following the completion of the sale, the senior vice president now owns 11,884 shares in the company, valued at $1,927,109.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Gregory N. Henderson sold 2,341 shares of the business’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $160.00, for a total transaction of $374,560.00. Following the sale, the senior vice president now owns 7,308 shares of the company’s stock, valued at approximately $1,169,280. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,186 shares of company stock worth $8,023,662. Corporate insiders own 0.42% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 8th. Stockholders of record on Friday, May 28th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, May 27th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.73%. Analog Devices’s payout ratio is currently 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.
Recommended Story: Buy Rating
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: Why are percentage gainers important?
7 Forever Stocks That Are Never Bad to Buy
Investors thought 2021 would be a less volatile year. That narrative has run into some problems. Sure, all the major indexes are up for the year. And that’s despite the NASDAQ’s gut-wrenching 10% drop in March.
But many investors don’t feel much like celebrating. In fact, many are concerned about the liquidity that continues to be pumped into the stock market. In 2020, the pandemic flooded the economy with $6 trillion dollars of stimulus.
However, in the last few months, the Federal Reserve has introduced another $6 trillion into the economy. We would have stopped counting, but the math is pretty easy. It’s $12.3 trillion that has flooded into the economy.
Eventually, this is going to end badly. But timing the market is an imperfect science particularly when many investors are enjoying the game.
Fortunately, there’s a way to safeguard your portfolio without abandoning equities. That has to do with investing in forever stocks.
Forever stocks aren’t magic beans. They don’t go up forever. But they are stocks that have stood the test of time. And investing in these stocks will keep your portfolio heading in the right direction.
With that in mind, we’ve put together this special presentation that showcases seven of these forever stocks. These are all stocks that are household names, but that’s kind of the point. You don’t need special knowledge. You just have to recognize that these are companies that consistently do right by their shareholders.
