Analog Devices, Inc. (ADI) Updates Q4 Earnings Guidance
Analog Devices, Inc. (NASDAQ:ADI) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.29-1.43 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.24. The company issued revenue guidance of $1.45-1.55 billion, compared to the consensus revenue estimate of $1.46 billion.
ADI has been the subject of several research reports. B. Riley reiterated a buy rating and issued a $103.00 target price on shares of Analog Devices in a research report on Tuesday, May 30th. UBS AG reiterated a neutral rating and issued a $94.00 target price (up previously from $83.00) on shares of Analog Devices in a research report on Saturday, June 3rd. Jefferies Group LLC reiterated a buy rating and issued a $100.00 target price on shares of Analog Devices in a research report on Monday, May 22nd. BidaskClub lowered Analog Devices from a hold rating to a sell rating in a research report on Saturday, August 5th. Finally, Morgan Stanley reiterated an overweight rating and issued a $93.00 target price on shares of Analog Devices in a research report on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $89.92.
Shares of Analog Devices, Inc. (NASDAQ ADI) opened at 79.55 on Wednesday. The stock’s 50 day moving average price is $79.22 and its 200-day moving average price is $79.94. Analog Devices, Inc. has a 12 month low of $59.01 and a 12 month high of $90.49. The firm has a market capitalization of $29.20 billion, a price-to-earnings ratio of 30.47 and a beta of 1.30.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate 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 20.88% and a return on equity of 19.39%. The business’s revenue for the quarter was up 64.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share. On average, equities research analysts predict that Analog Devices, Inc. will post $4.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.26%. Analog Devices’s payout ratio is presently 67.92%.
In other Analog Devices news, SVP Peter Real sold 4,505 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $80.07, for a total transaction of $360,715.35. Following the transaction, the senior vice president now directly owns 13,531 shares in the company, valued at approximately $1,083,427.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $77.81, for a total transaction of $233,430.00. Following the transaction, the senior vice president now owns 20,404 shares in the company, valued at $1,587,635.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,586 shares of company stock worth $1,082,574. Company insiders own 1.10% of the company’s stock.
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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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