Equities analysts expect that Analog Devices, Inc. (NASDAQ:ADI) will report sales of $1.47 billion for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Analog Devices’ earnings, with the highest sales estimate coming in at $1.49 billion and the lowest estimate coming in at $1.47 billion. Analog Devices posted sales of $1.15 billion during the same quarter last year, which suggests a positive year over year growth rate of 27.8%. The business is scheduled to announce its next quarterly earnings report on Wednesday, May 30th.
On average, analysts expect that Analog Devices will report full year sales of $1.47 billion for the current fiscal year, with estimates ranging from $5.92 billion to $6.19 billion. For the next financial year, analysts expect that the firm will post sales of $6.28 billion per share, with estimates ranging from $5.96 billion to $6.65 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Analog Devices.
Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.13. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.49 billion. Analog Devices had a net margin of 13.80% and a return on equity of 18.78%. The company’s revenue was up 54.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS.
Several analysts have issued reports on ADI shares. Morgan Stanley increased their price objective on shares of Analog Devices from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Sanford C. Bernstein raised shares of Analog Devices from a “market perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a research report on Tuesday, February 20th. BidaskClub downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Saturday, February 17th. Piper Jaffray raised shares of Analog Devices from a “neutral” rating to an “overweight” rating and set a $92.00 price objective for the company in a research report on Tuesday, February 13th. Finally, Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Monday, March 5th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Analog Devices currently has an average rating of “Buy” and a consensus price target of $100.79.
In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $91.25, for a total transaction of $912,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenton J. Sicchitano sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $91.45, for a total transaction of $685,875.00. Following the sale, the director now directly owns 25,285 shares of the company’s stock, valued at approximately $2,312,313.25. The disclosure for this sale can be found here. Insiders have sold 73,164 shares of company stock valued at $6,646,793 in the last three months. Corporate insiders own 1.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. lifted its stake in Analog Devices by 381.1% during the fourth quarter. Sit Investment Associates Inc. now owns 1,275 shares of the semiconductor company’s stock worth $114,000 after purchasing an additional 1,010 shares during the last quarter. Icon Wealth Partners LLC bought a new position in Analog Devices during the fourth quarter worth $121,000. Fieldpoint Private Securities LLC lifted its stake in Analog Devices by 91.6% during the third quarter. Fieldpoint Private Securities LLC now owns 1,475 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 705 shares during the last quarter. Clear Perspective Advisors LLC lifted its stake in Analog Devices by 3,884.2% during the third quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock worth $130,000 after purchasing an additional 1,476 shares during the last quarter. Finally, Cerebellum GP LLC bought a new position in Analog Devices during the fourth quarter worth $130,000. 88.55% of the stock is owned by institutional investors and hedge funds.
ADI traded down $0.30 on Friday, reaching $90.94. 1,749,946 shares of the company’s stock were exchanged, compared to its average volume of 3,089,796. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.31 and a current ratio of 1.76. Analog Devices has a twelve month low of $74.65 and a twelve month high of $98.38. The company has a market cap of $33,104.82, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Friday, March 9th were given a dividend of $0.48 per share. The ex-dividend date was Thursday, March 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from Analog Devices’s previous quarterly dividend of $0.45. Analog Devices’s dividend payout ratio (DPR) is presently 40.68%.
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Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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