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.
Warren Buffett, Jeff Bezos, and Elon Musk are investing billions in a new trend CNBC called: a “$30 trillion market just getting started.”
With all the savviest investors jumping in, research firm MRP called it “a mania” and said: the stocks in this area “will experience exponential growth from here.”
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.
Further Reading: What does an equal weight rating mean?
Get a free copy of the Zacks research report on Analog Devices (ADI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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: Intrinsic Value and Stock Selection
7 Stocks to Support Your New Year’s Resolutions
After a year like 2020, many Americans figure that just getting to 2021 was enough. But for many people, the start of a new year still means making resolutions. And while many Americans are still waking up to Groundhog’s Day, there is hope that things will look dramatically different in September than they do right now.
Some of the most popular resolutions include losing weight, exercising more, or taking steps to get our life and/or business more organized. And many pure-play companies lean into these trends and are doing well.
As an alternative to this, you can also invest in companies that are not pure plays but can still benefit from consumers looking to start fresh. Owning these stocks helps you manage your risk. If the trend holds, you can ride the wave. On the other hand, if the wave turns into a ripple, the stocks have other catalysts to get them through.
In this special presentation, we’ll take a look at both of these categories. We’ve got several pure-play companies that let investors buy stocks in companies benefiting from these trends. We’ll also give you a few stocks that fall in the latter category.
These are stocks that you might buy at any time and for many reasons. However, they present excellent buys as the new year begins.
