Analog Devices, Inc. (ADI) Updates Q4 Earnings Guidance
Analog Devices, Inc. (NYSE:ADI) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.66-0.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.70, AR Network reports. The company issued revenue guidance of $790-820 million, compared to the consensus revenue estimate of $797.95 million.
Several analysts have recently commented on the stock. Analysts at B. Riley reiterated a buy rating on shares of Analog Devices in a research note on Wednesday, July 30th. They now have a $62.00 price target on the stock, up previously from $58.00. On a related note, analysts at Stifel Nicolaus initiated coverage on shares of Analog Devices in a research note on Friday, June 27th. They set a buy rating and a $66.00 price target on the stock. Finally, analysts at Sterne Agee initiated coverage on shares of Analog Devices in a research note on Friday, June 27th. They set a buy rating on the stock. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Analog Devices presently has an average rating of Buy and a consensus target price of $57.54.
Analog Devices, Inc. (NYSE:ADI) traded up 0.54% during mid-day trading on Tuesday, hitting $52.21. The stock had a trading volume of 2,645,974 shares. Analog Devices, Inc. has a 1-year low of $45.28 and a 1-year high of $56.18. The stock’s 50-day moving average is $51.78 and its 200-day moving average is $52.25. The company has a market cap of $16.402 billion and a P/E ratio of 23.00.
Analog Devices (NYSE:ADI) last released its earnings data on Tuesday, August 26th. The company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $728.00 million for the quarter, compared to the consensus estimate of $716.32 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts predict that Analog Devices, Inc. will post $2.38 earnings per share for the current fiscal year.
Analog Devices, Inc (NYSE:ADI) is engaged in the design, manufacture and marketing of a range of analog, mixed-signal and digital signal processing integrated circuits (ICs).
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