Analog Devices (NASDAQ:ADI – Get Rating) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $2.47-2.67 for the period, compared to the consensus EPS estimate of $2.50. The company issued revenue guidance of $3.05-3.25 billion, compared to the consensus revenue estimate of $3.10 billion.
Wall Street Analyst Weigh In
A number of brokerages have commented on ADI. Bank of America cut their price target on shares of Analog Devices from $220.00 to $190.00 and set a buy rating for the company in a research note on Wednesday, June 29th. Morgan Stanley reduced their price target on shares of Analog Devices from $186.00 to $173.00 and set an equal weight rating on the stock in a research report on Friday, June 10th. Sanford C. Bernstein boosted their target price on Analog Devices to $200.00 and gave the stock an outperform rating in a report on Thursday, May 19th. Truist Financial raised their price target on Analog Devices from $194.00 to $203.00 and gave the company a buy rating in a report on Thursday, May 19th. Finally, The Goldman Sachs Group decreased their target price on Analog Devices from $185.00 to $167.00 in a report on Friday, July 15th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of Moderate Buy and an average price target of $195.79.
Analog Devices Stock Down 0.5 %
Shares of NASDAQ:ADI opened at $179.04 on Wednesday. The company has a 50 day moving average price of $158.46 and a two-hundred day moving average price of $159.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.53 and a current ratio of 1.99. The company has a market capitalization of $93.07 billion, a PE ratio of 50.72, a PEG ratio of 1.59 and a beta of 1.13. Analog Devices has a 52 week low of $138.50 and a 52 week high of $191.95.
Analog Devices Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Tuesday, August 30th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.70%. Analog Devices’s dividend payout ratio is presently 86.12%.
Insiders Place Their Bets
In related news, CFO Prashanth Mahendra-Rajah sold 3,901 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $163.14, for a total value of $636,409.14. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Bruce R. Evans acquired 3,650 shares of the business’s stock in a transaction dated Friday, June 17th. The stock was bought at an average price of $144.16 per share, with a total value of $526,184.00. Following the acquisition, the director now owns 104,008 shares in the company, valued at approximately $14,993,793.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 3,901 shares of the business’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $163.14, for a total transaction of $636,409.14. Following the transaction, the chief financial officer now owns 16,108 shares in the company, valued at $2,627,859.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,036 shares of company stock worth $7,384,291. Company insiders own 0.47% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Capital International Investors boosted its holdings in shares of Analog Devices by 17.5% during the first quarter. Capital International Investors now owns 2,863,634 shares of the semiconductor company’s stock worth $473,015,000 after acquiring an additional 426,281 shares during the period. Eaton Vance Management grew its holdings in Analog Devices by 21.4% in the 1st quarter. Eaton Vance Management now owns 1,237,441 shares of the semiconductor company’s stock valued at $204,401,000 after buying an additional 218,232 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Analog Devices during the 1st quarter worth $32,941,000. Bridgewater Associates LP acquired a new stake in shares of Analog Devices during the first quarter worth $21,301,000. Finally, Stonebridge Capital Advisors LLC grew its stake in shares of Analog Devices by 56,936.1% in the first quarter. Stonebridge Capital Advisors LLC now owns 47,340 shares of the semiconductor company’s stock valued at $7,820,000 after acquiring an additional 47,257 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.
About Analog Devices
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.
- Get a free copy of the StockNews.com research report on Analog Devices (ADI)
- Are These 3 Video Game Stocks Now In Play?
- 2 Long-Term EV Plays Trading Under $20
- Why Apple is Primed to Take a Bite Out of Live Sports
- Exxon, Occidental Petroleum Lead Heavy Month Of Insider Buying
- Home Depot Results Point To Sluggish 2nd Half
Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.