Wall Street brokerages expect that Analog Devices, Inc. (NASDAQ:ADI) will post $1.71 billion in sales for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Analog Devices’ earnings. The lowest sales estimate is $1.70 billion and the highest is $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 company is expected to issue its next earnings report on Wednesday, August 18th.
According to Zacks, analysts expect that Analog Devices will report full-year sales of $6.67 billion for the current fiscal year, with estimates ranging from $6.60 billion to $6.81 billion. For the next year, analysts anticipate that the company will post sales of $7.12 billion, with estimates ranging from $6.73 billion to $7.46 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Analog Devices.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, May 18th. The semiconductor company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.09. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Analog Devices had a net margin of 25.16% and a return on equity of 17.91%. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share.
A number of analysts have weighed in on ADI shares. Truist Securities dropped their target price on shares of Analog Devices from $183.00 to $179.00 and set a “buy” rating on the stock in a report on Thursday, May 20th. Sanford C. Bernstein raised shares of Analog Devices from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $165.00 to $185.00 in a report on Thursday, May 20th. Needham & Company LLC initiated coverage on shares of Analog Devices in a report on Thursday, June 24th. They issued a “buy” rating and a $195.00 price objective on the stock. KeyCorp increased their price objective on shares of Analog Devices from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Analog Devices from $160.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, May 20th. Three equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $174.95.
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ADI opened at $167.55 on Tuesday. The firm has a market capitalization of $61.80 billion, a PE ratio of 39.99, a PEG ratio of 2.16 and a beta of 1.25. The company has a fifty day moving average of $162.22. The company has a quick ratio of 0.81, a current ratio of 1.05 and a debt-to-equity ratio of 0.31. Analog Devices has a 12-month low of $110.47 and a 12-month high of $172.45.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 8th. Investors of record on Friday, May 28th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.65%. The ex-dividend date was Thursday, May 27th. Analog Devices’s payout ratio is presently 56.21%.
In other Analog Devices news, CFO Prashanth Mahendra-Rajah sold 6,750 shares of the stock in a transaction that occurred on Thursday, May 27th. The stock was sold at an average price of $165.18, for a total transaction of $1,114,965.00. Following the transaction, the chief financial officer now owns 21,912 shares in the company, valued at $3,619,424.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 1st. The shares were sold at an average price of $164.20, for a total value of $1,642,000.00. Following the transaction, the chief executive officer now owns 29,428 shares in the company, valued at approximately $4,832,077.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,828 shares of company stock worth $3,780,683. Insiders own 0.91% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ADI. CVA Family Office LLC acquired a new stake in shares of Analog Devices in the first quarter worth $26,000. Ameritas Investment Company LLC acquired a new stake in shares of Analog Devices in the first quarter worth $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of Analog Devices in the first quarter worth $30,000. Meridian Wealth Partners LLC acquired a new stake in shares of Analog Devices in the first quarter worth $34,000. Finally, Newfound Research LLC acquired a new stake in shares of Analog Devices in the first quarter worth $39,000. Institutional investors own 95.93% of the company’s stock.
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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