Equities analysts forecast that Analog Devices, Inc. (NASDAQ:ADI) will announce sales of $1.50 billion for the current fiscal quarter, according to Zacks. Eleven analysts have made estimates for Analog Devices’ earnings. The highest sales estimate is $1.53 billion and the lowest is $1.49 billion. Analog Devices reported sales of $984.45 million during the same quarter last year, which suggests a positive year over year growth rate of 52.4%. The company is expected to announce its next earnings results on Wednesday, February 21st.
According to Zacks, analysts expect that Analog Devices will report full year sales of $1.50 billion for the current fiscal year, with estimates ranging from $5.69 billion to $6.19 billion. For the next fiscal year, analysts forecast that the business will report sales of $6.11 billion per share, with estimates ranging from $5.78 billion to $6.30 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Analog Devices.
Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 21st. The semiconductor company reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.09. Analog Devices had a net margin of 14.22% and a return on equity of 18.78%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was up 53.4% on a year-over-year basis.
A number of equities analysts have weighed in on the stock. B. Riley reaffirmed a “buy” rating and issued a $110.00 target price on shares of Analog Devices in a research note on Saturday, September 2nd. BidaskClub upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus lowered their price target on shares of Analog Devices from $100.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, November 22nd. Morgan Stanley reiterated an “overweight” rating and set a $103.00 price target (up previously from $98.00) on shares of Analog Devices in a research report on Wednesday, November 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Analog Devices from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 31st. Twelve analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $96.52.
Shares of Analog Devices (ADI) traded down $0.14 during midday trading on Wednesday, hitting $87.95. 2,098,500 shares of the company’s stock were exchanged, compared to its average volume of 2,970,777. Analog Devices has a one year low of $71.00 and a one year high of $93.99. The company has a market capitalization of $32,473.13, a P/E ratio of 18.82, a PEG ratio of 1.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.13 and a current ratio of 1.47.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Friday, December 1st were paid a $0.45 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.05%. Analog Devices’s dividend payout ratio (DPR) is presently 86.96%.
In other Analog Devices news, SVP Joseph Hassett sold 18,400 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $85.06, for a total transaction of $1,565,104.00. Following the sale, the senior vice president now directly owns 30,139 shares in the company, valued at $2,563,623.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Peter Real sold 4,505 shares of the stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $83.52, for a total transaction of $376,257.60. Following the sale, the senior vice president now owns 13,531 shares in the company, valued at $1,130,109.12. The disclosure for this sale can be found here. Insiders sold 178,353 shares of company stock worth $15,356,716 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. raised its holdings in Analog Devices by 54.1% during the 2nd quarter. Franklin Resources Inc. now owns 9,251,799 shares of the semiconductor company’s stock worth $719,786,000 after purchasing an additional 3,248,336 shares during the last quarter. Neuberger Berman Group LLC grew its position in shares of Analog Devices by 97.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,303,569 shares of the semiconductor company’s stock worth $370,839,000 after buying an additional 2,123,268 shares during the period. Janus Henderson Group PLC grew its position in shares of Analog Devices by 576.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,785,372 shares of the semiconductor company’s stock worth $138,903,000 after buying an additional 1,521,316 shares during the period. BlackRock Inc. grew its position in shares of Analog Devices by 6.2% during the 2nd quarter. BlackRock Inc. now owns 24,482,633 shares of the semiconductor company’s stock worth $1,904,749,000 after buying an additional 1,437,338 shares during the period. Finally, Prudential PLC grew its position in shares of Analog Devices by 23,301.9% during the 2nd quarter. Prudential PLC now owns 1,304,189 shares of the semiconductor company’s stock worth $101,466,000 after buying an additional 1,298,616 shares during the period. Institutional investors and hedge funds own 86.98% of the company’s stock.
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Analog Devices Company Profile
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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