Analog Devices Inc. (NASDAQ:ADI) announced its quarterly earnings results on Tuesday. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The company had revenue of $1 million for the quarter, compared to the consensus estimate of $941.92 million. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. Analog Devices’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. Analog Devices updated its Q1 guidance to $0.68-0.78 EPS.

Shares of Analog Devices (NASDAQ:ADI) opened at 69.82 on Tuesday. Analog Devices has a 12 month low of $47.24 and a 12 month high of $69.91. The stock has a market cap of $21.47 billion, a PE ratio of 32.98 and a beta of 1.18. The stock has a 50 day moving average of $64.27 and a 200 day moving average of $61.09.

Earnings History for Analog Devices (NASDAQ:ADI)

A number of analysts have issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $73.00 price target on shares of Analog Devices in a report on Wednesday, July 27th. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price target on shares of Analog Devices in a report on Monday. Citigroup Inc. downgraded shares of Analog Devices from a “buy” rating to a “neutral” rating and lifted their price target for the company from $60.00 to $68.00 in a report on Wednesday, July 27th. They noted that the move was a valuation call. Barclays PLC lifted their price target on shares of Analog Devices from $55.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, July 27th. Finally, Pacific Crest lifted their price target on shares of Analog Devices from $60.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, July 27th. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $71.32.

In other news, Director John C. Hodgson sold 7,500 shares of the stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total value of $483,150.00. Following the completion of the sale, the director now directly owns 18,485 shares in the company, valued at $1,190,803.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Rick D. Hess sold 6,000 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $62.63, for a total transaction of $375,780.00. Following the completion of the sale, the senior vice president now owns 30,495 shares of the company’s stock, valued at $1,909,901.85. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of ADI. BlueMountain Capital Management LLC boosted its stake in shares of Analog Devices by 722.0% in the second quarter. BlueMountain Capital Management LLC now owns 12,469 shares of the company’s stock worth $706,000 after buying an additional 10,952 shares during the period. Sei Investments Co. boosted its stake in shares of Analog Devices by 14.9% in the second quarter. Sei Investments Co. now owns 49,793 shares of the company’s stock worth $2,820,000 after buying an additional 6,443 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Analog Devices by 15.9% in the second quarter. Public Sector Pension Investment Board now owns 58,221 shares of the company’s stock worth $3,298,000 after buying an additional 8,000 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Analog Devices by 1.0% in the second quarter. Alliancebernstein L.P. now owns 551,868 shares of the company’s stock worth $31,258,000 after buying an additional 5,653 shares during the period. Finally, Atlantic Trust Group LLC boosted its stake in shares of Analog Devices by 2.4% in the second quarter. Atlantic Trust Group LLC now owns 15,399 shares of the company’s stock worth $873,000 after buying an additional 361 shares during the period. Institutional investors and hedge funds own 86.33% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.

5 Day Chart for NASDAQ:ADI

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