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.

Several research analysts have commented on the stock. BidaskClub lowered shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. SunTrust Banks restated a “buy” rating and issued a $118.00 price objective on shares of Analog Devices in a report on Thursday, August 30th. Loop Capital assumed coverage on shares of Analog Devices in a report on Thursday, June 21st. They issued a “buy” rating and a $117.00 price objective for the company. Nomura assumed coverage on shares of Analog Devices in a report on Wednesday, July 18th. They issued a “neutral” rating and a $100.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Friday, August 24th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Analog Devices currently has a consensus rating of “Buy” and a consensus target price of $107.00.

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.

See Also: Are analyst ratings accurate?

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

Earnings History and Estimates for Analog Devices (NASDAQ:ADI)

Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.