Analog Devices Inc. (NASDAQ:ADI) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.68-0.78 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.72. The company issued revenue guidance of 840-900 million, compared to the consensus revenue estimate of $843.79 million.

Several research analysts have commented on ADI shares. Zacks Investment Research raised Analog Devices from a hold rating to a buy rating and set a $72.00 price objective on the stock in a research report on Wednesday, October 5th. B. Riley reiterated a buy rating and issued a $80.00 price target on shares of Analog Devices in a research note on Tuesday, November 15th. MKM Partners lifted their price target on Analog Devices from $56.00 to $66.00 and gave the stock a neutral rating in a research note on Wednesday, July 27th. Wells Fargo & Co. reiterated a buy rating on shares of Analog Devices in a research note on Thursday, August 18th. Finally, Citigroup Inc. downgraded Analog Devices from a buy rating to a neutral rating and lifted their price target for the stock from $60.00 to $68.00 in a research note on Wednesday, July 27th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Analog Devices presently has an average rating of Buy and a consensus price target of $71.32.

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

Analog Devices Inc. (NASDAQ:ADI) opened at 69.82 on Tuesday. The company has a market cap of $21.47 billion, a PE ratio of 32.98 and a beta of 1.18. The company has a 50-day moving average of $64.27 and a 200 day moving average of $61.09. Analog Devices Inc. has a 52-week low of $47.24 and a 52-week high of $69.91.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.16. The business had revenue of $1 million for the quarter, compared to analyst estimates of $941.92 million. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Equities research analysts predict that Analog Devices Inc. will post $2.92 EPS for the current year.

In other news, SVP Rick D. Hess sold 6,000 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 30,495 shares of the company’s stock, valued at $1,909,901.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John C. Hodgson sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total transaction of $483,150.00. Following the transaction, the director now directly owns 18,485 shares of the company’s stock, valued at approximately $1,190,803.70. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ADI. Wetherby Asset Management Inc. increased its position in shares of Analog Devices by 3.7% in the second quarter. Wetherby Asset Management Inc. now owns 5,095 shares of the company’s stock worth $289,000 after buying an additional 180 shares in the last quarter. Bank of Nova Scotia boosted its stake in Analog Devices by 5.8% in the second quarter. Bank of Nova Scotia now owns 6,178 shares of the company’s stock worth $350,000 after buying an additional 340 shares during the last quarter. Atlantic Trust Group LLC boosted its stake in 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 last quarter. Ameritas Investment Partners Inc. boosted its stake in Analog Devices by 3.9% in the second quarter. Ameritas Investment Partners Inc. now owns 11,500 shares of the company’s stock worth $651,000 after buying an additional 431 shares during the last quarter. Finally, Veritable L.P. boosted its position in shares of Analog Devices by 6.1% in the second quarter. Veritable L.P. now owns 9,739 shares of the company’s stock worth $552,000 after buying an additional 563 shares in the last quarter. 86.33% of the stock is owned by institutional investors and hedge funds.

About Analog Devices

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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