Analog Devices, Inc. (ADI) Expected to Post Quarterly Sales of $1.50 Billion
Equities analysts expect Analog Devices, Inc. (NASDAQ:ADI) to announce sales of $1.50 billion for the current quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Analog Devices’ earnings, with estimates ranging from $1.50 billion to $1.54 billion. Analog Devices posted sales of $1.00 billion in the same quarter last year, which would indicate a positive year over year growth rate of 50%. The business is expected to announce its next earnings results on Tuesday, November 28th.
According to Zacks, analysts expect that Analog Devices will report full year sales of $1.50 billion for the current fiscal year, with estimates ranging from $5.07 billion to $5.19 billion. For the next fiscal year, analysts forecast that the firm will post sales of $5.87 billion per share, with estimates ranging from $5.74 billion to $6.07 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Analog Devices.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted $0.82 EPS. The firm’s revenue for the quarter was up 64.9% compared to the same quarter last year.
A number of research firms have recently commented on ADI. B. Riley restated a “buy” rating and issued a $110.00 price objective on shares of Analog Devices in a research report on Sunday, August 27th. ValuEngine cut Analog Devices from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. BidaskClub cut Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Royal Bank Of Canada boosted their price objective on Analog Devices from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. Finally, Raymond James Financial, Inc. initiated coverage on Analog Devices in a research report on Friday, June 16th. They set a “market perform” rating for the company. Twelve equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $92.12.
Analog Devices (NASDAQ:ADI) opened at 87.00 on Thursday. The firm has a 50-day moving average price of $82.47 and a 200 day moving average price of $80.33. The company has a market capitalization of $31.99 billion, a P/E ratio of 43.31 and a beta of 1.30. Analog Devices has a 1-year low of $59.54 and a 1-year high of $90.49.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, September 7th. Analog Devices’s dividend payout ratio (DPR) is presently 86.12%.
In related news, SVP Margaret K. Seif sold 3,000 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $80.35, for a total transaction of $241,050.00. Following the transaction, the senior vice president now owns 20,404 shares of the company’s stock, valued at approximately $1,639,461.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bruce R. Evans bought 14,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The shares were purchased at an average cost of $78.28 per share, for a total transaction of $1,095,920.00. Following the purchase, the director now owns 67,540 shares in the company, valued at approximately $5,287,031.20. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 106,494 shares of company stock worth $8,920,681. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Analog Devices by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 29,053,102 shares of the semiconductor company’s stock worth $2,260,331,000 after acquiring an additional 847,762 shares in the last quarter. BlackRock Inc. lifted its stake in Analog Devices by 6.2% during the 2nd quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock worth $1,904,749,000 after acquiring an additional 1,437,338 shares in the last quarter. Wellington Management Group LLP lifted its stake in Analog Devices by 14.4% during the 1st quarter. Wellington Management Group LLP now owns 18,479,225 shares of the semiconductor company’s stock worth $1,514,372,000 after acquiring an additional 2,319,193 shares in the last quarter. State Street Corp lifted its stake in Analog Devices by 20.0% during the 1st quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock worth $1,225,852,000 after acquiring an additional 2,493,568 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in 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 acquiring an additional 3,248,336 shares in the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.
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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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