Zacks: Analysts Anticipate Analog Devices, Inc. (ADI) to Post $1.35 Earnings Per Share
Equities research analysts predict that Analog Devices, Inc. (NASDAQ:ADI) will report earnings per share of $1.35 for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Analog Devices’ earnings, with the highest EPS estimate coming in at $1.43 and the lowest estimate coming in at $1.22. Analog Devices posted earnings per share of $1.05 in the same quarter last year, which suggests a positive year over year growth rate of 28.6%. The company is expected to announce its next quarterly earnings report on Tuesday, November 28th.
According to Zacks, analysts expect that Analog Devices will report full-year earnings of $4.58 per share for the current fiscal year, with EPS estimates ranging from $4.34 to $4.65. For the next year, analysts expect that the company will report earnings of $4.90 per share, with EPS estimates ranging from $4.69 to $5.27. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Analog Devices.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.11. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. Analog Devices’s revenue for the quarter was up 64.9% on a year-over-year basis. During the same quarter last year, the business earned $0.82 EPS.
ADI has been the topic of a number of research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating on shares of Analog Devices in a research report on Monday, July 10th. BidaskClub downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Citigroup Inc. reaffirmed a “neutral” rating and set a $88.00 price objective (down from $91.00) on shares of Analog Devices in a research report on Friday, September 1st. Raymond James Financial, Inc. initiated coverage on shares of Analog Devices in a research report on Friday, June 16th. They set a “market perform” rating on the stock. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $92.00 price objective on shares of Analog Devices in a research report on Friday, August 4th. Twelve investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Analog Devices presently has a consensus rating of “Buy” and a consensus target price of $91.85.
Shares of Analog Devices (NASDAQ:ADI) traded up 0.35% during trading on Thursday, hitting $82.35. 2,226,102 shares of the company’s stock were exchanged. The firm has a market capitalization of $30.28 billion, a PE ratio of 40.99 and a beta of 1.29. Analog Devices has a 1-year low of $59.54 and a 1-year high of $90.49. The stock’s 50 day moving average is $79.94 and its 200 day moving average is $80.16.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Friday, September 8th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, September 7th. Analog Devices’s payout ratio is currently 86.12%.
WARNING: This piece was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international trademark and copyright law. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/09/14/zacks-analysts-anticipate-analog-devices-inc-adi-to-post-1-35-earnings-per-share.html.
In related news, SVP Margaret K. Seif sold 3,000 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $77.81, for a total transaction of $233,430.00. Following the completion of the transaction, the senior vice president now directly owns 20,404 shares in the company, valued at approximately $1,587,635.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Champy sold 10,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $85.00, for a total transaction of $850,000.00. Following the transaction, the director now owns 20,185 shares of the company’s stock, valued at $1,715,725. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,686 shares of company stock valued at $3,780,282. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Analog Devices by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 29,053,102 shares of the semiconductor company’s stock valued at $2,260,331,000 after buying an additional 847,762 shares in the last quarter. BlackRock Inc. raised its stake in shares of Analog Devices by 6.2% in the 2nd quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock valued at $1,904,749,000 after buying an additional 1,437,338 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Analog Devices by 14.4% in the 1st quarter. Wellington Management Group LLP now owns 18,479,225 shares of the semiconductor company’s stock valued at $1,514,372,000 after buying an additional 2,319,193 shares in the last quarter. State Street Corp raised its stake in shares of Analog Devices by 20.0% in the 1st quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock valued at $1,225,852,000 after buying an additional 2,493,568 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Analog Devices by 54.1% in the 2nd quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock valued at $719,786,000 after buying an additional 3,248,336 shares in the last quarter. Institutional investors own 86.72% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Analog Devices Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices Inc. and related companies with MarketBeat.com's FREE daily email newsletter.