Analog Devices (NASDAQ:ADI) Releases Q3 2022 Earnings Guidance

Analog Devices (NASDAQ:ADIGet Rating) updated its third quarter 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.32-$2.52 for the period, compared to the consensus estimate of $2.16. The company issued revenue guidance of $2.95 billion-$3.15 billion, compared to the consensus revenue estimate of $2.89 billion.

ADI has been the subject of a number of recent analyst reports. Citigroup decreased their price target on Analog Devices from $216.00 to $192.00 and set a buy rating for the company in a report on Thursday, February 17th. Sanford C. Bernstein boosted their price target on Analog Devices to $200.00 and gave the company an outperform rating in a research report on Thursday, May 19th. UBS Group dropped their price target on Analog Devices to $210.00 and set a hold rating on the stock in a research report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on Analog Devices from $200.00 to $185.00 and set a hold rating on the stock in a report on Thursday, February 17th. Finally, Truist Financial raised their price objective on Analog Devices from $194.00 to $203.00 and gave the company a buy rating in a research note on Thursday, May 19th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $199.52.

Shares of ADI stock traded up $1.93 during mid-day trading on Friday, hitting $165.93. The company’s stock had a trading volume of 72,426 shares, compared to its average volume of 3,877,203. Analog Devices has a 52-week low of $143.81 and a 52-week high of $191.95. The business has a 50-day moving average price of $160.01 and a 200 day moving average price of $166.04. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.65 and a current ratio of 1.99. The stock has a market cap of $86.25 billion, a price-to-earnings ratio of 46.99, a PEG ratio of 1.53 and a beta of 1.07.

Analog Devices (NASDAQ:ADIGet Rating) last released its quarterly earnings data on Wednesday, May 18th. The semiconductor company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.29. Analog Devices had a net margin of 16.84% and a return on equity of 12.11%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the business posted $1.54 earnings per share. The company’s revenue for the quarter was up 78.9% compared to the same quarter last year. Equities research analysts predict that Analog Devices will post 8.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 9th. Shareholders of record on Tuesday, May 31st will be issued a $0.76 dividend. The ex-dividend date is Friday, May 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.83%. Analog Devices’s dividend payout ratio is presently 86.12%.

In other Analog Devices news, CFO Prashanth Mahendra-Rajah sold 3,901 shares of Analog Devices stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $163.14, for a total transaction of $636,409.14. Following the completion of the sale, the chief financial officer now directly owns 16,108 shares of the company’s stock, valued at approximately $2,627,859.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tunc Doluca sold 4,700 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $159.76, for a total value of $750,872.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,901 shares of company stock valued at $2,951,831. 0.91% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital International Investors increased its position in shares of Analog Devices by 17.5% in the first quarter. Capital International Investors now owns 2,863,634 shares of the semiconductor company’s stock valued at $473,015,000 after buying an additional 426,281 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Analog Devices by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,457,070 shares of the semiconductor company’s stock valued at $405,860,000 after acquiring an additional 8,104 shares during the last quarter. Eaton Vance Management increased its stake in shares of Analog Devices by 21.4% during the 1st quarter. Eaton Vance Management now owns 1,237,441 shares of the semiconductor company’s stock valued at $204,401,000 after acquiring an additional 218,232 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Analog Devices by 3.3% during the 1st quarter. Mackenzie Financial Corp now owns 463,148 shares of the semiconductor company’s stock valued at $76,503,000 after acquiring an additional 14,838 shares during the last quarter. Finally, Baird Financial Group Inc. grew its holdings in shares of Analog Devices by 9.4% during the 1st quarter. Baird Financial Group Inc. now owns 349,536 shares of the semiconductor company’s stock worth $57,736,000 after purchasing an additional 30,146 shares during the period. Institutional investors own 86.15% of the company’s stock.

Analog Devices Company Profile (Get Rating)

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 and Estimates for Analog Devices (NASDAQ:ADI)

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