Analog Devices (NASDAQ:ADI) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Analog Devices (NASDAQ:ADIGet Rating) issued its quarterly earnings results on Tuesday. The semiconductor company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.15, RTT News reports. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.16 billion. Analog Devices had a net margin of 17.00% and a return on equity of 11.92%. Analog Devices’s revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share.

Analog Devices Price Performance

ADI opened at $159.24 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.43 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $81.90 billion, a P/E ratio of 43.99, a PEG ratio of 1.40 and a beta of 1.11. The stock has a 50-day moving average price of $147.25 and a 200-day moving average price of $154.90. Analog Devices has a 12-month low of $133.48 and a 12-month high of $191.95.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, December 5th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.91%. Analog Devices’s dividend payout ratio (DPR) is currently 83.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler reduced their price target on Analog Devices from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, August 18th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Analog Devices from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Tuesday, October 18th. Cowen assumed coverage on shares of Analog Devices in a research report on Tuesday, October 11th. They set an “outperform” rating and a $180.00 price objective for the company. Robert W. Baird reiterated an “outperform” rating and set a $220.00 price target on shares of Analog Devices in a research note on Friday, August 19th. Finally, Citigroup boosted their price objective on Analog Devices from $192.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $190.70.

Insiders Place Their Bets

In related news, SVP Vivek Jain sold 14,000 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $165.63, for a total transaction of $2,318,820.00. Following the transaction, the senior vice president now owns 18,271 shares of the company’s stock, valued at approximately $3,026,225.73. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Analog Devices news, Director Tunc Doluca sold 2,400 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $150.00, for a total value of $360,000.00. Following the completion of the sale, the director now owns 69,157 shares in the company, valued at $10,373,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vivek Jain sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $165.63, for a total transaction of $2,318,820.00. Following the completion of the transaction, the senior vice president now owns 18,271 shares in the company, valued at approximately $3,026,225.73. The disclosure for this sale can be found here. Insiders sold a total of 18,100 shares of company stock valued at $2,950,820 over the last quarter. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

Institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings in Analog Devices by 13.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,713 shares of the semiconductor company’s stock worth $448,000 after buying an additional 332 shares during the period. KB Financial Partners LLC lifted its stake in Analog Devices by 10.7% in the first quarter. KB Financial Partners LLC now owns 2,665 shares of the semiconductor company’s stock worth $440,000 after acquiring an additional 258 shares during the period. First Western Trust Bank bought a new stake in Analog Devices in the first quarter valued at $400,000. West Family Investments Inc. increased its position in Analog Devices by 30.6% during the 1st quarter. West Family Investments Inc. now owns 2,339 shares of the semiconductor company’s stock valued at $386,000 after purchasing an additional 548 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in Analog Devices by 11.9% in the 1st quarter. Brown Brothers Harriman & Co. now owns 2,291 shares of the semiconductor company’s stock worth $378,000 after purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 85.22% of the company’s stock.

Analog Devices Company Profile

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

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Earnings History for Analog Devices (NASDAQ:ADI)

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