Analog Devices, Inc. (NASDAQ:ADI) – Research analysts at Truist Securiti raised their Q2 2022 earnings per share (EPS) estimates for shares of Analog Devices in a research report issued on Wednesday, February 17th. Truist Securiti analyst W. Stein now forecasts that the semiconductor company will post earnings of $1.64 per share for the quarter, up from their previous forecast of $1.59. Truist Securiti also issued estimates for Analog Devices’ Q3 2022 earnings at $1.69 EPS, Q4 2022 earnings at $1.73 EPS, FY2022 earnings at $6.63 EPS and Q1 2023 earnings at $1.70 EPS. Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, February 16th. The semiconductor company reported $1.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.12. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. During the same quarter in the prior year, the company earned $1.03 EPS.
A number of other equities research analysts also recently weighed in on the stock. Truist lifted their price target on shares of Analog Devices from $136.00 to $164.00 and gave the stock a “buy” rating in a research note on Wednesday, November 25th. Royal Bank of Canada lifted their price target on shares of Analog Devices from $174.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday. KeyCorp lifted their price target on shares of Analog Devices from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 6th. Argus lifted their price target on shares of Analog Devices from $145.00 to $155.00 in a research note on Wednesday, November 25th. Finally, Evercore ISI upgraded shares of Analog Devices from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $135.00 to $160.00 in a research note on Monday, November 9th. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $151.96.
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ADI opened at $158.09 on Friday. Analog Devices has a fifty-two week low of $79.07 and a fifty-two week high of $163.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 1.40. The firm’s fifty day moving average price is $154.17 and its two-hundred day moving average price is $133.20. The company has a market capitalization of $58.39 billion, a P/E ratio of 48.20, a P/E/G ratio of 2.26 and a beta of 1.31.
Several hedge funds have recently made changes to their positions in the company. Coastal Investment Advisors Inc. increased its stake in shares of Analog Devices by 2.2% in the 4th quarter. Coastal Investment Advisors Inc. now owns 2,958 shares of the semiconductor company’s stock valued at $437,000 after acquiring an additional 64 shares during the last quarter. BKD Wealth Advisors LLC increased its stake in shares of Analog Devices by 0.9% in the 4th quarter. BKD Wealth Advisors LLC now owns 7,137 shares of the semiconductor company’s stock valued at $1,054,000 after acquiring an additional 65 shares during the last quarter. Sowell Financial Services LLC increased its stake in shares of 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. Parkside Financial Bank & Trust increased its stake in shares of Analog Devices by 19.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 408 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 67 shares during the last quarter. Finally, Argus Investors Counsel Inc. increased its stake in shares of Analog Devices by 1.0% in the 4th quarter. Argus Investors Counsel Inc. now owns 6,852 shares of the semiconductor company’s stock valued at $1,012,000 after acquiring an additional 68 shares during the last quarter. 91.90% of the stock is owned by institutional investors.
In other Analog Devices news, Director James Champy sold 1,562 shares of the business’s stock in a transaction dated Wednesday, January 13th. The stock was sold at an average price of $160.00, for a total transaction of $249,920.00. Following the completion of the sale, the director now directly owns 8,406 shares of the company’s stock, valued at approximately $1,344,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, February 1st. The stock was sold at an average price of $148.34, for a total value of $1,483,400.00. Following the sale, the chief executive officer now directly owns 16,957 shares of the company’s stock, valued at $2,515,401.38. The disclosure for this sale can be found here. Insiders have sold a total of 25,736 shares of company stock valued at $3,751,212 over the last three months. Company insiders own 0.42% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 9th. Shareholders of record on Friday, February 26th will be issued a dividend of $0.69 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.62. This represents a $2.76 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, February 25th. Analog Devices’s payout ratio is currently 50.51%.
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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Every trading day, between 500 and 800 new recommendations and research reports are issued by sell-side equities research analysts. There are between 300 and 500 brokerages and research houses that issue ratings, price targets and recommendations and more than 5,000 securities around the world that regularly receive coverage from research analysts.
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