Zacks: Analysts Expect Analog Devices, Inc. (ADI) Will Announce Quarterly Sales of $1.50 Billion

Brokerages forecast that Analog Devices, Inc. (NASDAQ:ADI) will post $1.50 billion in sales for the current quarter, Zacks reports. Eleven analysts have made estimates for Analog Devices’ earnings, with the lowest sales estimate coming in at $1.49 billion and the highest estimate coming in at $1.53 billion. Analog Devices posted sales of $984.45 million in the same quarter last year, which suggests a positive year-over-year growth rate of 52.4%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 21st.

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 $5.69 billion to $6.19 billion. For the next fiscal year, analysts anticipate that the company will report sales of $6.11 billion per share, with estimates ranging from $5.78 billion to $6.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Analog Devices.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.09. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s quarterly revenue was up 53.4% compared to the same quarter last year.

A number of brokerages have recently issued reports on ADI. Stifel Nicolaus cut their price objective on shares of Analog Devices from $100.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, November 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $103.00 price objective (up previously from $98.00) on shares of Analog Devices in a research note on Wednesday, November 22nd. BidaskClub raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday. Drexel Hamilton reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Analog Devices in a research note on Tuesday, November 21st. Finally, KeyCorp reaffirmed a “buy” rating and issued a $107.00 price objective on shares of Analog Devices in a research note on Friday, November 24th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Analog Devices has an average rating of “Buy” and a consensus price target of $97.21.

Analog Devices (ADI) opened at $96.14 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. Analog Devices has a 12 month low of $72.09 and a 12 month high of $98.38. The company has a market cap of $35,440.00, a P/E ratio of 48.56, a price-to-earnings-growth ratio of 1.78 and a beta of 1.29.

In other Analog Devices news, Director Ray Stata sold 10,000 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $91.70, for a total value of $917,000.00. Following the completion of the transaction, the director now directly owns 179,481 shares in the company, valued at approximately $16,458,407.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Yusuf Jamal sold 718 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $90.89, for a total transaction of $65,259.02. The disclosure for this sale can be found here. Insiders have sold a total of 181,561 shares of company stock valued at $15,756,741 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. D.A. Davidson & CO. increased its stake in shares of Analog Devices by 111.6% in the 2nd quarter. D.A. Davidson & CO. now owns 3,219 shares of the semiconductor company’s stock worth $250,000 after acquiring an additional 1,698 shares in the last quarter. FMR LLC increased its stake in shares of Analog Devices by 14.6% in the 2nd quarter. FMR LLC now owns 8,889,572 shares of the semiconductor company’s stock worth $691,608,000 after acquiring an additional 1,132,549 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Analog Devices by 21.7% in the 2nd quarter. MML Investors Services LLC now owns 6,185 shares of the semiconductor company’s stock worth $481,000 after acquiring an additional 1,103 shares in the last quarter. Suntrust Banks Inc. increased its stake in shares of Analog Devices by 63.8% in the 2nd quarter. Suntrust Banks Inc. now owns 69,042 shares of the semiconductor company’s stock worth $5,370,000 after acquiring an additional 26,902 shares in the last quarter. Finally, Cibc World Markets Corp increased its stake in shares of Analog Devices by 98.4% in the 2nd quarter. Cibc World Markets Corp now owns 79,170 shares of the semiconductor company’s stock worth $6,159,000 after acquiring an additional 39,261 shares in the last quarter. Institutional investors and hedge funds own 87.03% of the company’s stock.

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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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Earnings History and Estimates for Analog Devices (NASDAQ:ADI)

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