Analog Devices (NASDAQ:ADI) Releases Earnings Results, Beats Estimates By $0.03 EPS

Analog Devices (NASDAQ:ADI) issued its earnings results on Tuesday. The semiconductor company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03, MarketWatch Earnings reports. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.31 billion. Analog Devices had a return on equity of 18.86% and a net margin of 26.15%. Analog Devices’s revenue was up 53.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 earnings per share. Analog Devices updated its Q1 2022 guidance to $1.680-$1.880 EPS and its Q1 guidance to $1.68-$1.88 EPS.

Shares of NASDAQ:ADI traded up $0.02 during trading on Thursday, hitting $182.47. 2,914,821 shares of the company’s stock traded hands, compared to its average volume of 3,522,003. Analog Devices has a 52 week low of $134.96 and a 52 week high of $191.95. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. The company has a market cap of $67.19 billion, a price-to-earnings ratio of 39.93, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16. The company has a 50-day moving average price of $176.12 and a 200-day moving average price of $168.75.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 14th. Stockholders of record on Friday, December 3rd will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, December 2nd. Analog Devices’s dividend payout ratio (DPR) is presently 60.39%.

Analog Devices declared that its board has authorized a stock buyback plan on Wednesday, August 25th that allows the company to buyback $8.50 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 13.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Several research firms have issued reports on ADI. UBS Group began coverage on Analog Devices in a research note on Wednesday, October 13th. They set a “buy” rating and a $210.00 price objective for the company. Robert W. Baird reiterated a “buy” rating on shares of Analog Devices in a research note on Thursday. BMO Capital Markets increased their price objective on Analog Devices from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday. Raymond James increased their price objective on Analog Devices from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Piper Sandler increased their price objective on Analog Devices from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $193.41.

In other news, Director Bruce R. Evans bought 8,001 shares of the company’s stock in a transaction that occurred on Wednesday, October 6th. The shares were acquired at an average price of $164.98 per share, with a total value of $1,320,004.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tunc Doluca sold 1,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 19th. The shares were sold at an average price of $190.00, for a total value of $190,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,100 shares of company stock worth $5,382,960 in the last quarter. 0.91% of the stock is currently owned by company insiders.

A hedge fund recently bought a new stake in Analog Devices stock. Camden National Bank purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,670 shares of the semiconductor company’s stock, valued at approximately $247,000. 99.41% of the stock is owned by hedge funds and other institutional investors.

About Analog Devices

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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Earnings History for Analog Devices (NASDAQ:ADI)

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