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.
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.
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