Analog Devices, Inc. (ADI) Expected to Announce Quarterly Sales of $1.57 Billion
Wall Street brokerages expect Analog Devices, Inc. (NASDAQ:ADI) to report sales of $1.57 billion for the current quarter, according to Zacks. Ten analysts have made estimates for Analog Devices’ earnings. The highest sales estimate is $1.59 billion and the lowest is $1.57 billion. Analog Devices posted sales of $1.54 billion during the same quarter last year, which would indicate a positive year over year growth rate of 1.9%. The company is expected to announce its next quarterly earnings results on Tuesday, November 20th.
On average, analysts expect that Analog Devices will report full-year sales of $6.18 billion for the current financial year, with estimates ranging from $6.17 billion to $6.19 billion. For the next financial year, analysts forecast that the company will report sales of $6.40 billion per share, with estimates ranging from $6.33 billion to $6.52 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Analog Devices.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.07. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business posted $1.26 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year.
In other news, Director Ray Stata sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $100.30, for a total value of $2,006,000.00. Following the sale, the director now directly owns 171,936 shares of the company’s stock, valued at approximately $17,245,180.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Margaret K. Seif sold 2,700 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $97.19, for a total transaction of $262,413.00. The disclosure for this sale can be found here. Insiders sold a total of 106,655 shares of company stock worth $10,425,833 over the last ninety days. Insiders own 0.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ADI. Washington Trust Bank grew its position in Analog Devices by 127.7% during the 2nd quarter. Washington Trust Bank now owns 1,070 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 600 shares during the last quarter. Fort L.P. purchased a new stake in Analog Devices during the 2nd quarter valued at about $117,000. Integrated Investment Consultants LLC purchased a new stake in Analog Devices during the 2nd quarter valued at about $130,000. Clarus Wealth Advisors purchased a new stake in Analog Devices during the 2nd quarter valued at about $139,000. Finally, Summit Trail Advisors LLC grew its position in Analog Devices by 6,966.6% during the 1st quarter. Summit Trail Advisors LLC now owns 147,410 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 145,324 shares during the last quarter. 88.02% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:ADI traded up $0.44 during midday trading on Wednesday, reaching $95.00. 2,558,700 shares of the stock traded hands, compared to its average volume of 2,697,512. Analog Devices has a 12 month low of $80.95 and a 12 month high of $103.59. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $35.15 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.30 and a beta of 1.18.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Friday, August 31st were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, August 30th. Analog Devices’s dividend payout ratio is presently 40.68%.
Analog Devices announced that its board has authorized a share buyback program on Tuesday, August 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It 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 ICs to support cellular infrastructure.
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