Brokerages Anticipate Analog Devices, Inc. (ADI) Will Announce Quarterly Sales of $1.51 Billion

Equities research analysts expect Analog Devices, Inc. (NASDAQ:ADI) to announce sales of $1.51 billion for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for Analog Devices’ earnings. The highest sales estimate is $1.51 billion and the lowest is $1.50 billion. Analog Devices posted sales of $1.52 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 0.7%. The firm is scheduled to announce its next earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that Analog Devices will report full year sales of $6.25 billion for the current fiscal year, with estimates ranging from $6.17 billion to $6.33 billion. For the next financial year, analysts forecast that the firm will post sales of $6.56 billion, with estimates ranging from $6.40 billion to $6.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Analog Devices.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 20th. The semiconductor company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.03. Analog Devices had a return on equity of 20.88% and a net margin of 24.12%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business posted $1.45 EPS. The business’s revenue was up 3.6% on a year-over-year basis.

Several equities research analysts have weighed in on ADI shares. BidaskClub cut Analog Devices from a “hold” rating to a “sell” rating in a report on Friday, August 17th. BMO Capital Markets reiterated a “buy” rating and issued a $107.00 price objective on shares of Analog Devices in a report on Monday, August 20th. Stifel Nicolaus increased their price objective on Analog Devices from $108.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Raymond James increased their price objective on Analog Devices from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, August 23rd. Finally, B. Riley dropped their price objective on Analog Devices from $120.00 to $117.00 and set a “buy” rating for the company in a report on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Analog Devices currently has an average rating of “Hold” and a consensus target price of $100.52.

In other news, SVP Margaret K. Seif sold 2,700 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $243,000.00. Following the completion of the transaction, the senior vice president now owns 24,517 shares of the company’s stock, valued at approximately $2,206,530. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $85.00, for a total value of $850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 27,376 shares of the company’s stock, valued at approximately $2,326,960. The disclosure for this sale can be found here. Insiders sold a total of 50,800 shares of company stock valued at $4,601,096 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Baird Financial Group Inc. increased its position in Analog Devices by 7.9% during the 2nd quarter. Baird Financial Group Inc. now owns 133,108 shares of the semiconductor company’s stock valued at $12,768,000 after buying an additional 9,798 shares in the last quarter. Alps Advisors Inc. bought a new position in Analog Devices during the 2nd quarter valued at approximately $272,000. HRT Financial LLC bought a new position in Analog Devices during the 2nd quarter valued at approximately $1,013,000. Intact Investment Management Inc. increased its position in Analog Devices by 16.7% during the 3rd quarter. Intact Investment Management Inc. now owns 4,900 shares of the semiconductor company’s stock valued at $453,000 after buying an additional 700 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in Analog Devices by 7.5% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 11,911 shares of the semiconductor company’s stock valued at $1,101,000 after buying an additional 833 shares in the last quarter. 89.57% of the stock is owned by institutional investors.

NASDAQ ADI opened at $86.42 on Monday. Analog Devices has a fifty-two week low of $76.62 and a fifty-two week high of $103.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.50 and a quick ratio of 1.08. The company has a market capitalization of $31.99 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27.

Analog Devices declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 29th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, November 28th. Analog Devices’s dividend payout ratio is currently 32.32%.

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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