Analog Devices (NASDAQ:ADI) Posts Earnings Results, Beats Estimates By $0.15 EPS

Analog Devices (NASDAQ:ADIGet Rating) released its quarterly earnings results on Tuesday. The semiconductor company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.15, RTT News reports. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Analog Devices had a net margin of 17.00% and a return on equity of 11.92%. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 EPS. 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 Trading Up 0.5 %

NASDAQ ADI opened at $169.20 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.17. The firm has a market cap of $87.03 billion, a PE ratio of 46.77, a price-to-earnings-growth ratio of 1.38 and a beta of 1.11. The company has a 50 day moving average price of $147.66 and a 200 day moving average price of $154.99. Analog Devices has a 52 week low of $133.48 and a 52 week high of $188.20.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, December 5th will be paid a dividend of $0.76 per share. The ex-dividend date is Friday, December 2nd. This represents a $3.04 annualized dividend and a dividend yield of 1.80%. Analog Devices’s dividend payout ratio (DPR) is presently 83.98%.

Insider Buying and Selling

In related news, Director Tunc Doluca sold 1,700 shares of the business’s 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 transaction, the director now owns 68,657 shares in the company, valued at approximately $10,985,120. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Worth Asset Management LLC acquired a new position in Analog Devices during the 1st quarter valued at approximately $33,000. Fairfield Bush & CO. acquired a new position in Analog Devices during the 1st quarter valued at approximately $82,000. Parkside Financial Bank & Trust increased its stake in Analog Devices by 38.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 897 shares of the semiconductor company’s stock valued at $148,000 after purchasing an additional 247 shares in the last quarter. qPULA Trading Management LP acquired a new position in Analog Devices during the 1st quarter valued at approximately $231,000. Finally, EP Wealth Advisors LLC acquired a new position in Analog Devices during the 1st quarter valued at approximately $235,000. Institutional investors and hedge funds own 85.22% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ADI. Robert W. Baird reissued an “outperform” rating and issued a $220.00 price objective on shares of Analog Devices in a research report on Friday, August 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Analog Devices from $155.00 to $170.00 in a research report on Wednesday. Evercore ISI boosted their price objective on shares of Analog Devices from $185.00 to $195.00 in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of Analog Devices from $173.00 to $177.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Cowen boosted their price objective on shares of Analog Devices from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.

See Also

Earnings History for Analog Devices (NASDAQ:ADI)

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