Analog Devices, Inc. (ADI) Expected to Announce Quarterly Sales of $1.50 Billion
Equities research analysts expect Analog Devices, Inc. (NASDAQ:ADI) to announce sales of $1.50 billion for the current fiscal quarter, according to Zacks. Eleven analysts have made estimates for Analog Devices’ earnings. The lowest sales estimate is $1.50 billion and the highest is $1.54 billion. Analog Devices posted sales of $1.00 billion during the same quarter last year, which would indicate a positive year over year growth rate of 50%. The business is scheduled to report its next earnings report on Tuesday, November 28th.
According to Zacks, analysts expect that Analog Devices will report full year sales of $1.50 billion for the current financial year, with estimates ranging from $5.07 billion to $5.19 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.87 billion per share, with estimates ranging from $5.74 billion to $6.07 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Analog Devices.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $0.82 EPS. The business’s revenue was up 64.9% compared to the same quarter last year.
Several research firms have commented on ADI. Jefferies Group LLC reissued a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a report on Thursday, October 19th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $106.00 price target on shares of Analog Devices in a report on Thursday, October 12th. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Tuesday, October 10th. BidaskClub raised Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, October 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $97.00 price target on shares of Analog Devices in a report on Monday, September 25th. Eleven analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $93.65.
In related news, Director Ray Stata sold 25,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $83.50, for a total transaction of $2,087,500.00. Following the completion of the sale, the director now owns 234,481 shares in the company, valued at $19,579,163.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenton J. Sicchitano sold 15,000 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $88.15, for a total value of $1,322,250.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,989 shares of company stock valued at $10,076,166. 1.10% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Pathstone Family Office LLC increased its position in Analog Devices by 75.0% in the second quarter. Pathstone Family Office LLC now owns 35 shares of the semiconductor company’s stock worth $1,557,000 after buying an additional 15 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Analog Devices in the first quarter worth about $100,000. Guardian Life Insurance Co. of America increased its position 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 worth $115,000 after buying an additional 223 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in 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. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new stake in Analog Devices in the second quarter worth about $119,000. Institutional investors and hedge funds own 86.60% of the company’s stock.
Shares of Analog Devices (ADI) opened at 88.77 on Tuesday. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of 44.19 and a beta of 1.30. The stock’s 50 day moving average price is $85.64 and its 200 day moving average price is $80.97. Analog Devices has a 12 month low of $62.22 and a 12 month high of $90.49.
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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