Analog Devices (NASDAQ:ADI) Posts Earnings Results

Analog Devices (NASDAQ:ADI – Get Rating) announced its earnings results on Wednesday. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.08, RTT News reports. Analog Devices had a return on equity of 15.27% and a net margin of 28.16%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period in the prior year, the company posted $2.40 EPS. Analog Devices’s quarterly revenue was up 9.8% on a year-over-year basis. Analog Devices updated its Q3 guidance to $2.42-2.62 EPS.

Analog Devices Stock Performance

Shares of ADI stock traded up $1.38 during trading on Friday, reaching $173.77. The company had a trading volume of 605,662 shares, compared to its average volume of 3,313,199. The firm’s 50 day simple moving average is $186.11 and its two-hundred day simple moving average is $176.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.79 and a quick ratio of 1.50. Analog Devices has a one year low of $133.48 and a one year high of $198.24. The company has a market capitalization of $87.90 billion, a PE ratio of 24.42, a PEG ratio of 1.33 and a beta of 1.15.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Monday, June 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, June 2nd. Analog Devices’s payout ratio is 48.73%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ADI. Truist Financial lowered their price target on Analog Devices from $251.00 to $213.00 in a report on Thursday. Cowen boosted their price target on Analog Devices from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. The Goldman Sachs Group upped their price objective on Analog Devices from $186.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Citigroup lowered their price objective on Analog Devices from $225.00 to $200.00 in a research note on Thursday. Finally, Susquehanna lowered their price objective on Analog Devices from $225.00 to $215.00 in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Insider Activity at Analog Devices

In other Analog Devices news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $187.01, for a total value of $4,909,012.50. Following the sale, the chief financial officer now owns 23,871 shares of the company’s stock, valued at approximately $4,464,115.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director James Champy sold 1,495 shares of Analog Devices stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total transaction of $277,232.80. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,181,438.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 26,250 shares of Analog Devices stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $187.01, for a total value of $4,909,012.50. Following the sale, the chief financial officer now directly owns 23,871 shares in the company, valued at approximately $4,464,115.71. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.

Institutional Trading of Analog Devices

Several institutional investors have recently bought and sold shares of ADI. Moneta Group Investment Advisors LLC raised its position in Analog Devices by 1.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,112 shares of the semiconductor company’s stock valued at $674,000 after purchasing an additional 64 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Analog Devices by 0.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,117 shares of the semiconductor company’s stock valued at $1,798,000 after purchasing an additional 70 shares during the last quarter. Hancock Whitney Corp raised its position in Analog Devices by 5.1% in the 1st quarter. Hancock Whitney Corp now owns 1,488 shares of the semiconductor company’s stock valued at $293,000 after purchasing an additional 72 shares during the last quarter. Tower View Investment Management & Research LLC raised its position in Analog Devices by 0.3% in the 1st quarter. Tower View Investment Management & Research LLC now owns 22,524 shares of the semiconductor company’s stock valued at $4,442,000 after purchasing an additional 76 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in Analog Devices by 0.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,486 shares of the semiconductor company’s stock valued at $2,376,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

About Analog Devices

(Get Rating)

Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.