Wall Street brokerages expect that Analog Devices, Inc. (NASDAQ:ADI) will report earnings per share of $1.28 for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Analog Devices’ earnings. The highest EPS estimate is $1.28 and the lowest is $1.26. Analog Devices reported earnings of $1.42 per share in the same quarter last year, which would indicate a negative year over year growth rate of 9.9%. The firm is scheduled to announce its next earnings report on Wednesday, February 27th.
According to Zacks, analysts expect that Analog Devices will report full-year earnings of $5.50 per share for the current fiscal year, with EPS estimates ranging from $5.21 to $5.90. For the next year, analysts anticipate that the firm will post earnings of $5.99 per share, with EPS estimates ranging from $5.79 to $6.29. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Analog Devices.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 20th. The semiconductor company reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.03. Analog Devices had a return on equity of 20.88% and a net margin of 24.12%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the business earned $1.45 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis.
A number of research analysts recently commented on ADI shares. Zacks Investment Research downgraded Analog Devices from a “buy” rating to a “hold” rating in a research note on Friday, August 24th. ValuEngine upgraded Analog Devices from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. B. Riley lowered their price objective on Analog Devices from $120.00 to $117.00 and set a “buy” rating for the company in a research note on Thursday, August 23rd. Stifel Nicolaus upped their price objective on Analog Devices from $108.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Finally, BidaskClub downgraded Analog Devices from a “hold” rating to a “sell” rating in a research note on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $100.52.
Shares of NASDAQ ADI traded down $3.11 during trading on Friday, reaching $86.42. The stock had a trading volume of 2,960,900 shares, compared to its average volume of 3,172,490. Analog Devices has a one year low of $76.62 and a one year high of $103.59. The company has a current ratio of 1.50, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $33.14 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27.
Analog Devices declared that its Board of Directors has initiated a share buyback program on Tuesday, August 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 5.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Thursday, November 29th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $1.92 dividend on an annualized basis and a yield of 2.22%. Analog Devices’s dividend payout ratio (DPR) is presently 32.32%.
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $93.34, for a total transaction of $933,400.00. Following the completion of the transaction, the chief executive officer now owns 27,376 shares in the company, valued at approximately $2,555,275.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Margaret K. Seif sold 2,700 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $92.81, for a total value of $250,587.00. The disclosure for this sale can be found here. Insiders have sold a total of 50,800 shares of company stock valued at $4,601,096 in the last quarter. 1.10% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in ADI. Capital International Investors lifted its holdings in shares of Analog Devices by 92.8% in the third quarter. Capital International Investors now owns 6,039,400 shares of the semiconductor company’s stock valued at $558,403,000 after buying an additional 2,906,159 shares during the period. American Century Companies Inc. lifted its holdings in shares of Analog Devices by 138.1% in the third quarter. American Century Companies Inc. now owns 2,314,874 shares of the semiconductor company’s stock valued at $214,033,000 after buying an additional 1,342,492 shares during the period. Morgan Stanley lifted its holdings in shares of Analog Devices by 19.9% in the second quarter. Morgan Stanley now owns 7,076,283 shares of the semiconductor company’s stock valued at $678,754,000 after buying an additional 1,172,933 shares during the period. Millennium Management LLC lifted its holdings in shares of Analog Devices by 69.0% in the second quarter. Millennium Management LLC now owns 1,783,441 shares of the semiconductor company’s stock valued at $171,068,000 after buying an additional 728,032 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Analog Devices by 80.7% in the third quarter. Prudential Financial Inc. now owns 1,498,869 shares of the semiconductor company’s stock valued at $138,585,000 after buying an additional 669,400 shares during the period. Institutional investors and hedge funds own 89.57% of the company’s stock.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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