Zacks: Brokerages Expect Analog Devices, Inc. (NASDAQ:ADI) Will Post Quarterly Sales of $1.70 Billion

Equities research analysts expect that Analog Devices, Inc. (NASDAQ:ADI) will post sales of $1.70 billion for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Analog Devices’ earnings. The highest sales estimate is $1.73 billion and the lowest is $1.70 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 16.4%. The firm is scheduled to announce its next earnings report on Wednesday, August 18th.

According to Zacks, analysts expect that Analog Devices will report full-year sales of $6.66 billion for the current financial year, with estimates ranging from $6.60 billion to $6.72 billion. For the next financial year, analysts forecast that the firm will report sales of $7.07 billion, with estimates ranging from $6.73 billion to $7.23 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Analog Devices.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, May 18th. The semiconductor company reported $1.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 return on equity of 17.91% and a net margin of 25.16%. The business’s revenue was up 26.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 earnings per share.

Several brokerages recently issued reports on ADI. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Analog Devices from $160.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, May 20th. Credit Suisse Group raised their target price on Analog Devices from $165.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 18th. Piper Sandler upped their price target on Analog Devices from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, February 18th. Raymond James increased their price objective on Analog Devices from $160.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, February 18th. Finally, 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. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Analog Devices has an average rating of “Buy” and an average price target of $165.00.

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Shares of NASDAQ ADI opened at $165.58 on Friday. The stock has a fifty day moving average of $157.57. Analog Devices has a 12 month low of $110.47 and a 12 month high of $166.32. The company has a quick ratio of 0.81, a current ratio of 1.05 and a debt-to-equity ratio of 0.31. The company has a market cap of $61.07 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.14 and a beta of 1.26.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 8th. Investors of record on Friday, May 28th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Thursday, May 27th. This represents a $2.76 annualized dividend and a yield of 1.67%. Analog Devices’s payout ratio is 56.21%.

In related news, SVP Gregory N. Henderson sold 14,557 shares of Analog Devices stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $154.60, for a total value of $2,250,512.20. Following the completion of the sale, the senior vice president now owns 8,910 shares of the company’s stock, valued at $1,377,486. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Martin Cotter sold 1,557 shares of the company’s stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $150.42, for a total value of $234,203.94. Following the sale, the senior vice president now owns 7,064 shares of the company’s stock, valued at approximately $1,062,566.88. The disclosure for this sale can be found here. In the last three months, insiders sold 67,936 shares of company stock valued at $10,780,627. 0.91% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in ADI. CVA Family Office LLC purchased a new position in shares of Analog Devices during the 1st quarter worth $26,000. Ameritas Investment Company LLC purchased a new position in Analog Devices during the first quarter valued at $27,000. Northwest Investment Counselors LLC bought a new stake in Analog Devices during the first quarter valued at about $30,000. Meridian Wealth Partners LLC purchased a new stake in Analog Devices in the first quarter worth about $34,000. Finally, Newfound Research LLC bought a new position in shares of Analog Devices in the first quarter worth about $39,000. Institutional investors and hedge funds own 96.05% 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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Earnings History and Estimates for Analog Devices (NASDAQ:ADI)

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