Analog Devices (NASDAQ:ADI) Posts Quarterly Earnings Results

Analog Devices (NASDAQ:ADIGet Rating) issued its quarterly earnings data on Tuesday. The semiconductor company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.15, RTT News reports. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.16 billion. Analog Devices had a return on equity of 11.92% and a net margin of 17.00%. The business’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 earnings per share. Analog Devices updated its Q1 guidance to $2.50-2.70 EPS and its Q1 2023 guidance to $2.50-$2.70 EPS.

Analog Devices Price Performance

ADI stock opened at $169.20 on Thursday. The firm has a 50 day moving average of $147.66 and a 200-day moving average of $154.99. Analog Devices has a 12-month low of $133.48 and a 12-month high of $188.20. The company has a current ratio of 1.92, a quick ratio of 1.43 and a debt-to-equity ratio of 0.17. The company has a market cap of $87.03 billion, a price-to-earnings ratio of 46.74, a PEG ratio of 1.38 and a beta of 1.11.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, December 5th will be given a dividend of $0.76 per share. The ex-dividend date is Friday, December 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.80%. Analog Devices’s payout ratio is 83.98%.

Insider Activity

In other news, Director Tunc Doluca sold 1,700 shares of Analog Devices stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $160.00, for a total transaction of $272,000.00. Following the completion of the sale, the director now directly owns 68,657 shares in the company, valued at approximately $10,985,120. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ADI. Worth Asset Management LLC purchased a new position in shares of Analog Devices during the 1st quarter worth approximately $33,000. Fairfield Bush & CO. purchased a new position in shares of Analog Devices during the 1st quarter worth approximately $82,000. Parkside Financial Bank & Trust increased its stake in shares of Analog Devices by 38.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 897 shares of the semiconductor company’s stock worth $148,000 after purchasing an additional 247 shares in the last quarter. qPULA Trading Management LP purchased a new position in shares of Analog Devices during the 1st quarter worth approximately $231,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Analog Devices during the 1st quarter worth approximately $235,000. 85.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADI. Credit Suisse Group reissued a “neutral” rating and set a $185.00 price target on shares of Analog Devices in a report on Wednesday, November 16th. Citigroup raised their price target on Analog Devices from $192.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. Barclays raised their price target on Analog Devices from $140.00 to $145.00 and gave the stock an “equal weight” rating in a report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $210.00 price objective on shares of Analog Devices in a research report on Friday, November 18th. Finally, Evercore ISI raised their price objective on shares of Analog Devices from $185.00 to $195.00 in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.65.

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 for Analog Devices (NASDAQ:ADI)

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