Analysts Expect Analog Devices, Inc. (NASDAQ:ADI) to Announce $1.15 Earnings Per Share
Wall Street analysts expect Analog Devices, Inc. (NASDAQ:ADI) to announce $1.15 earnings per share for the current fiscal quarter, according to Zacks. Eleven analysts have issued estimates for Analog Devices’ earnings, with the lowest EPS estimate coming in at $1.14 and the highest estimate coming in at $1.19. Analog Devices reported earnings per share of $0.82 during the same quarter last year, which indicates a positive year-over-year growth rate of 40.2%. The company is scheduled to report its next earnings report before the market opens on Wednesday, August 30th.
According to Zacks, analysts expect that Analog Devices will report full year earnings of $4.38 per share for the current year, with EPS estimates ranging from $4.30 to $4.44. For the next financial year, analysts expect that the firm will report earnings of $4.70 per share, with EPS estimates ranging from $4.51 to $5.02. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Analog Devices.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.18. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Analog Devices had a return on equity of 19.39% and a net margin of 20.88%. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share.
Several equities research analysts have recently commented on ADI shares. B. Riley restated a “buy” rating and issued a $103.00 price objective on shares of Analog Devices in a research note on Wednesday, March 22nd. BMO Capital Markets restated a “buy” rating and issued a $96.00 price objective on shares of Analog Devices in a research note on Friday, March 31st. Stephens upgraded Analog Devices from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 24th. Morgan Stanley restated an “overweight” rating and issued a $93.00 price objective on shares of Analog Devices in a research note on Tuesday, May 9th. Finally, Zacks Investment Research lowered Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Analog Devices presently has an average rating of “Buy” and a consensus price target of $88.86.
Shares of Analog Devices (ADI) traded down 0.95% during trading on Wednesday, hitting $80.37. The stock had a trading volume of 2,810,323 shares. The stock’s 50-day moving average price is $80.13 and its 200 day moving average price is $79.03. Analog Devices has a 1-year low of $59.01 and a 1-year high of $90.49. The firm has a market capitalization of $29.50 billion, a P/E ratio of 30.78 and a beta of 1.30.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Friday, June 9th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.24%. The ex-dividend date was Wednesday, June 7th. Analog Devices’s dividend payout ratio is currently 67.92%.
In related news, Director Bruce R. Evans acquired 14,000 shares of the stock in a transaction dated Friday, July 7th. The stock was acquired at an average cost of $78.28 per share, for a total transaction of $1,095,920.00. Following the completion of the purchase, the director now owns 67,540 shares of the company’s stock, valued at approximately $5,287,031.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Margaret K. Seif sold 3,000 shares of Analog Devices stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $77.52, for a total transaction of $232,560.00. Following the sale, the senior vice president now owns 20,404 shares of the company’s stock, valued at $1,581,718.08. The disclosure for this sale can be found here. Insiders sold 59,581 shares of company stock worth $5,073,308 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.
Large investors have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in Analog Devices during the first quarter worth about $100,000. Jacobus Wealth Management Inc. acquired a new position in Analog Devices during the first quarter worth about $113,000. Heritage Trust Co acquired a new position in Analog Devices during the first quarter worth about $114,000. Guardian Life Insurance Co. of America increased its position in Analog Devices by 18.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,403 shares of the semiconductor company’s stock worth $115,000 after buying an additional 223 shares in the last quarter. Finally, Financial Architects Inc increased its position in Analog Devices by 291.6% in the first quarter. Financial Architects Inc now owns 1,547 shares of the semiconductor company’s stock worth $126,000 after buying an additional 1,152 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.
About Analog Devices
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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