Wall Street brokerages expect Analog Devices, Inc. (NASDAQ:ADI) to report $1.50 billion in sales for the current quarter, according to Zacks. Eleven analysts have issued estimates for Analog Devices’ earnings. The lowest sales estimate is $1.50 billion and the highest is $1.54 billion. Analog Devices posted sales of $1.00 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 50%. The business is expected to report its next earnings results on Tuesday, November 28th.
On average, analysts expect that Analog Devices will report full year sales of $1.50 billion for the current fiscal year, with estimates ranging from $5.07 billion to $5.19 billion. For the next year, analysts anticipate that the firm will post sales of $5.87 billion per share, with estimates ranging from $5.74 billion to $6.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Analog Devices.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The company’s revenue was up 64.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share.
Several research firms have recently weighed in on ADI. B. Riley restated a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a research report on Tuesday, June 27th. Royal Bank Of Canada restated a “buy” rating and set a $92.00 price objective on shares of Analog Devices in a research report on Friday, August 4th. Stifel Nicolaus restated a “buy” rating and set a $97.00 price objective on shares of Analog Devices in a research report on Monday, September 25th. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Jefferies Group LLC restated a “buy” rating on shares of Analog Devices in a research report on Monday, July 10th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $92.12.
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In other news, SVP Gregory N. Henderson sold 6,396 shares of Analog Devices stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.34, for a total transaction of $539,438.64. Following the sale, the senior vice president now owns 10,327 shares of the company’s stock, valued at approximately $870,979.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenton J. Sicchitano sold 15,000 shares of Analog Devices stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $88.15, for a total transaction of $1,322,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 126,494 shares of company stock worth $10,677,931. Insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Analog Devices during the 1st quarter valued at about $100,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Analog Devices by 51.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 475 shares in the last quarter. Jacobus Wealth Management Inc. bought a new stake in shares of Analog Devices during the 1st quarter valued at about $113,000. Guardian Life Insurance Co. of America boosted its stake in shares of Analog Devices by 18.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 223 shares in the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Analog Devices during the 2nd quarter valued at about $119,000. 86.67% of the stock is currently owned by hedge funds and other institutional investors.
Analog Devices (NASDAQ:ADI) traded down 0.02% during mid-day trading on Thursday, hitting $87.87. 1,118,469 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $82.99 and its 200-day moving average price is $80.42. The stock has a market cap of $32.31 billion, a PE ratio of 43.74 and a beta of 1.30. Analog Devices has a 12 month low of $59.54 and a 12 month high of $90.49.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Friday, September 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Thursday, September 7th. Analog Devices’s dividend payout ratio (DPR) is presently 86.12%.
About Analog Devices
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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