$1.50 Billion in Sales Expected for Analog Devices, Inc. (ADI) This Quarter
Brokerages forecast that Analog Devices, Inc. (NASDAQ:ADI) will post sales of $1.50 billion for the current quarter, Zacks reports. Ten analysts have provided estimates for Analog Devices’ earnings. The highest sales estimate is $1.54 billion and the lowest is $1.50 billion. Analog Devices posted sales of $1.00 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 50%. The firm is scheduled to issue its next earnings report on Tuesday, November 28th.
On average, analysts expect that Analog Devices will report full-year sales of $1.50 billion for the current financial year, with estimates ranging from $5.05 billion to $5.19 billion. For the next fiscal year, analysts anticipate that the company will post sales of $5.84 billion per share, with estimates ranging from $5.74 billion to $6.00 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Analog Devices.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.11. Analog Devices had a return on equity of 19.06% and a net margin of 14.77%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue was up 64.9% compared to the same quarter last year.
Several research firms have commented on ADI. UBS AG reaffirmed a “neutral” rating and issued a $94.00 price target (up from $83.00) on shares of Analog Devices in a report on Saturday, June 3rd. B. Riley reaffirmed a “buy” rating and issued a $103.00 price target on shares of Analog Devices in a report on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $92.00 price target on shares of Analog Devices in a report on Friday, August 4th. BidaskClub lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Saturday, September 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $97.00 price target (up from $95.00) on shares of Analog Devices in a report on Thursday, June 1st. Twelve investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $91.85.
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In other Analog Devices news, Director Ray Stata sold 25,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $83.50, for a total value of $2,087,500.00. Following the completion of the sale, the director now owns 234,481 shares in the company, valued at approximately $19,579,163.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Champy sold 10,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $85.00, for a total transaction of $850,000.00. Following the completion of the sale, the director now owns 20,185 shares of the company’s stock, valued at approximately $1,715,725. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,686 shares of company stock valued at $5,867,782. 1.10% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in ADI. BlackRock Inc. raised its holdings in Analog Devices by 3,292.7% in the 1st quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock valued at $1,888,562,000 after acquiring an additional 22,366,040 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Analog Devices by 24.3% during the 1st quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock worth $2,311,428,000 after buying an additional 5,506,925 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Analog Devices by 54.1% during the 2nd quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock worth $719,786,000 after buying an additional 3,248,336 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Analog Devices by 84.6% during the 1st quarter. First Eagle Investment Management LLC now owns 6,520,656 shares of the semiconductor company’s stock worth $534,368,000 after buying an additional 2,987,637 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Analog Devices by 52.2% during the 1st quarter. FMR LLC now owns 7,757,023 shares of the semiconductor company’s stock worth $635,689,000 after buying an additional 2,661,277 shares during the last quarter. Institutional investors own 86.72% of the company’s stock.
Shares of Analog Devices (NASDAQ ADI) traded up 1.82% during trading on Friday, hitting $83.84. The stock had a trading volume of 2,923,791 shares. Analog Devices has a 52 week low of $59.54 and a 52 week high of $90.49. The company has a market capitalization of $30.83 billion, a PE ratio of 41.73 and a beta of 1.29. The firm has a 50-day moving average price of $80.06 and a 200 day moving average price of $80.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Friday, September 8th will be issued a $0.45 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.15%. Analog Devices’s payout ratio is 86.12%.
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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