Analog Devices (NASDAQ:ADI) Issues Q4 Earnings Guidance

Analog Devices (NASDAQ:ADIGet 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 (NASDAQ:ADIGet Rating) last released its quarterly earnings data on Wednesday, August 17th. The semiconductor company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Analog Devices had a net margin of 16.84% and a return on equity of 12.11%. The firm’s quarterly revenue was up 76.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 EPS. Analysts forecast that Analog Devices will post 9.23 earnings per share for the current year.

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

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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.

Further Reading

Earnings History and Estimates for Analog Devices (NASDAQ:ADI)

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