Equities research analysts forecast that Analog Devices, Inc. (NASDAQ:ADI) will post $1.50 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Analog Devices’ earnings, with estimates ranging from $1.49 billion to $1.51 billion. Analog Devices reported sales of $1.00 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The business is scheduled to issue its next earnings results on Tuesday, November 28th.
According to Zacks, analysts expect that Analog Devices will report full year sales of $1.50 billion for the current year, with estimates ranging from $4.91 billion to $5.11 billion. For the next year, analysts forecast that the company will post sales of $5.73 billion per share, with estimates ranging from $5.48 billion to $6.08 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 released its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The business’s quarterly revenue was up 64.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share.
Several equities analysts have recently weighed in on the company. B. Riley reissued a “buy” rating and set a $103.00 target price on shares of Analog Devices in a research report on Tuesday, May 30th. UBS AG reissued a “neutral” rating and set a $94.00 target price (up previously from $83.00) on shares of Analog Devices in a research report on Saturday, June 3rd. Citigroup Inc. reissued a “neutral” rating and set a $88.00 target price (down previously from $91.00) on shares of Analog Devices in a research report on Friday. Jefferies Group LLC reissued a “buy” rating and set a $100.00 target price on shares of Analog Devices in a research report on Monday, May 22nd. Finally, BidaskClub downgraded Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Twelve equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Analog Devices currently has an average rating of “Buy” and an average price target of $91.85.
In related news, Director Bruce R. Evans acquired 14,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was purchased at an average cost of $78.28 per share, for a total transaction of $1,095,920.00. Following the purchase, the director now directly owns 67,540 shares of the company’s stock, valued at approximately $5,287,031.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $80.28, for a total value of $240,840.00. Following the sale, the senior vice president now owns 20,404 shares of the company’s stock, valued at $1,638,033.12. The disclosure for this sale can be found here. Insiders have sold a total of 24,487 shares of company stock valued at $1,992,008 over the last 90 days. 1.10% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC acquired a new stake in Analog Devices during the first quarter worth approximately $100,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock worth $109,000 after buying an additional 475 shares during the period. Jacobus Wealth Management Inc. acquired a new stake in Analog Devices during the first quarter worth approximately $113,000. Heritage Trust Co acquired a new stake in Analog Devices during the first quarter worth approximately $114,000. Finally, Guardian Life Insurance Co. of America boosted its stake in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after buying an additional 223 shares during the period. Institutional investors own 86.88% of the company’s stock.
Analog Devices (NASDAQ:ADI) traded up 0.85% during mid-day trading on Tuesday, hitting $84.38. The stock had a trading volume of 2,648,027 shares. Analog Devices has a 12 month low of $59.01 and a 12 month high of $90.49. The stock has a market cap of $30.97 billion, a price-to-earnings ratio of 32.32 and a beta of 1.30. The stock’s 50-day moving average price is $79.59 and its 200-day moving average price is $80.13.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Friday, September 8th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 7th. Analog Devices’s dividend payout ratio (DPR) is currently 86.12%.
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Analog Devices Company Profile
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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