Brokerages Expect Analog Devices, Inc. (ADI) Will Announce Quarterly Sales of $1.40 Billion
Equities analysts expect Analog Devices, Inc. (NASDAQ:ADI) to report sales of $1.40 billion for the current quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Analog Devices’ earnings. The highest sales estimate is $1.42 billion and the lowest is $1.38 billion. Analog Devices posted sales of $869.59 million in the same quarter last year, which suggests a positive year over year growth rate of 61%. The business is expected to issue its next quarterly earnings report before the market opens on Wednesday, August 30th.
According to Zacks, analysts expect that Analog Devices will report full-year sales of $1.40 billion for the current fiscal year, with estimates ranging from $4.96 billion to $5.11 billion. For the next year, analysts expect that the firm will post sales of $5.73 billion per share, with estimates ranging from $5.48 billion to $6.08 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Analog Devices.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.18. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the company posted $0.64 earnings per share. Analog Devices’s revenue for the quarter was up 41.2% on a year-over-year basis.
A number of research firms recently issued reports on ADI. B. Riley restated a “buy” rating and set a $103.00 price target on shares of Analog Devices in a research note on Tuesday, May 30th. UBS AG reaffirmed a “neutral” rating and set a $94.00 price objective (up from $83.00) on shares of Analog Devices in a research report on Saturday, June 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Analog Devices in a research report on Monday, May 22nd. Stephens raised Analog Devices from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 24th. Finally, BidaskClub cut Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $89.92.
In other news, SVP Margaret K. Seif sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $81.54, for a total value of $244,620.00. Following the completion of the sale, the senior vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $1,663,742.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 47,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total value of $4,108,750.00. Following the completion of the sale, the chief executive officer now directly owns 61,484 shares of the company’s stock, valued at $5,318,366. The disclosure for this sale can be found here. Insiders sold a total of 61,086 shares of company stock valued at $5,202,514 over the last three months. Insiders own 1.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC acquired a new stake in Analog Devices during the first quarter valued at approximately $100,000. Jacobus Wealth Management Inc. acquired a new stake in Analog Devices during the first quarter valued at approximately $113,000. Heritage Trust Co acquired a new stake in Analog Devices during the first quarter valued at approximately $114,000. Guardian Life Insurance Co. of America boosted its stake in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 223 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Analog Devices by 51.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,406 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 475 shares in the last quarter. 87.76% of the stock is owned by institutional investors and hedge funds.
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Analog Devices (NASDAQ:ADI) opened at 77.98 on Thursday. The firm has a 50-day moving average price of $79.29 and a 200-day moving average price of $79.67. The firm has a market capitalization of $28.62 billion, a P/E ratio of 29.87 and a beta of 1.30. Analog Devices has a one year low of $59.01 and a one year high of $90.49.
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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