$1.40 Billion in Sales Expected for Analog Devices, Inc. (NASDAQ:ADI) This Quarter
Brokerages expect that Analog Devices, Inc. (NASDAQ:ADI) will report $1.40 billion in sales for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for Analog Devices’ earnings. The lowest sales estimate is $1.38 billion and the highest is $1.42 billion. Analog Devices reported sales of $869.59 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 61%. The firm is expected to announce its next quarterly earnings report before the market opens on Wednesday, August 30th.
On average, analysts expect that Analog Devices will report full year sales of $1.40 billion for the current year, with estimates ranging from $4.96 billion to $5.11 billion. For the next fiscal 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 analysts that follow Analog Devices.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share for the quarter, beating the 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business posted $0.64 EPS. Analog Devices’s quarterly revenue was up 41.2% on a year-over-year basis.
ADI has been the subject of a number of recent research reports. BMO Capital Markets reiterated a “buy” rating and issued a $96.00 price objective on shares of Analog Devices in a report on Friday, March 31st. Jefferies Group LLC reiterated a “buy” rating on shares of Analog Devices in a report on Monday, July 10th. Raymond James Financial, Inc. initiated coverage on shares of Analog Devices in a report on Friday, June 16th. They issued a “market perform” rating for the company. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $90.00 price objective (up from $87.00) on shares of Analog Devices in a report on Thursday, June 1st. Finally, B. Riley reiterated a “buy” rating and issued a $103.00 price objective on shares of Analog Devices in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $88.86.
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 shares were sold at an average price of $81.54, for a total transaction of $244,620.00. Following the completion of the sale, the senior vice president now owns 20,404 shares of the company’s stock, valued at $1,663,742.16. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the sale, the chief executive officer now directly owns 61,484 shares of the company’s stock, valued at approximately $5,318,366. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,581 shares of company stock valued at $4,840,748. Company insiders own 1.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in Analog Devices during the first quarter valued at $100,000. Jacobus Wealth Management Inc. purchased a new stake in Analog Devices during the first quarter valued at $113,000. Heritage Trust Co purchased a new stake in Analog Devices during the first quarter valued at $114,000. Guardian Life Insurance Co. of America raised 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 during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of 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 worth $109,000 after buying an additional 475 shares in the last quarter. 87.33% of the stock is owned by institutional investors.
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Analog Devices (NASDAQ:ADI) traded down 2.356% during trading on Friday, reaching $78.945. The company had a trading volume of 1,688,940 shares. Analog Devices has a 52-week low of $59.01 and a 52-week high of $90.49. The company has a 50-day moving average of $79.87 and a 200-day moving average of $79.05. The firm has a market capitalization of $28.97 billion, a P/E ratio of 30.236 and a beta of 1.30.
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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