Analog Devices, Inc. to Post Q1 2018 Earnings of $1.28 Per Share, KeyCorp Forecasts (ADI)
Analog Devices, Inc. (NASDAQ:ADI) – Analysts at KeyCorp raised their Q1 2018 EPS estimates for Analog Devices in a research report issued to clients and investors on Tuesday. KeyCorp analyst M. Mcconnell now anticipates that the semiconductor company will post earnings of $1.28 per share for the quarter, up from their previous forecast of $1.20. KeyCorp currently has a “Buy” rating and a $107.00 price objective on the stock. KeyCorp also issued estimates for Analog Devices’ Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $1.37 EPS, Q4 2018 earnings at $1.37 EPS and Q1 2019 earnings at $1.30 EPS.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.09. Analog Devices had a return on equity of 18.78% and a net margin of 14.22%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 53.4% compared to the same quarter last year.
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ADI has been the topic of a number of other research reports. Drexel Hamilton reissued a “buy” rating and set a $105.00 price target on shares of Analog Devices in a report on Tuesday. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $100.00 price target on shares of Analog Devices in a report on Friday, November 17th. Morgan Stanley reissued an “overweight” rating and set a $103.00 price target (up previously from $98.00) on shares of Analog Devices in a report on Wednesday. B. Riley raised their price target on Analog Devices from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Jefferies Group LLC lifted their price objective on Analog Devices to $110.00 and gave the company a “buy” rating in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Analog Devices currently has a consensus rating of “Buy” and a consensus price target of $96.04.
Analog Devices (NASDAQ:ADI) traded up $0.34 on Thursday, hitting $88.99. The stock had a trading volume of 416,864 shares, compared to its average volume of 2,961,242. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.52. Analog Devices has a twelve month low of $68.42 and a twelve month high of $93.99. The firm has a market capitalization of $32,679.56, a PE ratio of 18.94, a P/E/G ratio of 1.67 and a beta of 1.32.
Several institutional investors have recently modified their holdings of the stock. Quantitative Systematic Strategies LLC acquired a new position in Analog Devices in the 2nd quarter valued at $756,000. Riverbridge Partners LLC acquired a new position in Analog Devices in the 2nd quarter valued at $24,054,000. Sadoff Investment Management LLC raised its holdings in Analog Devices by 1.3% in the 2nd quarter. Sadoff Investment Management LLC now owns 285,083 shares of the semiconductor company’s stock valued at $22,179,000 after acquiring an additional 3,751 shares during the last quarter. Deltec Asset Management LLC acquired a new position in Analog Devices in the 2nd quarter valued at $1,000,000. Finally, Russell Investments Group Ltd. raised its holdings in Analog Devices by 28.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 403,786 shares of the semiconductor company’s stock valued at $31,424,000 after acquiring an additional 89,419 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.
In related news, SVP Peter Real sold 4,505 shares of Analog Devices stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $82.13, for a total transaction of $369,995.65. Following the completion of the transaction, the senior vice president now directly owns 13,531 shares in the company, valued at approximately $1,111,301.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray Stata sold 25,000 shares of Analog Devices stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $83.50, for a total value of $2,087,500.00. Following the transaction, the director now owns 234,481 shares of the company’s stock, valued at $19,579,163.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,994 shares of company stock valued at $11,370,618. Insiders own 1.10% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.02%. Analog Devices’s payout ratio is 86.96%.
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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