Analog Devices (NASDAQ:ADI) Updates Q3 Earnings Guidance

Analog Devices (NASDAQ:ADI – Get Rating) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $2.42-2.62 for the period, compared to the consensus earnings per share estimate of $2.65. The company issued revenue guidance of $3.0-3.2 billion, compared to the consensus revenue estimate of $3.16 billion.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group boosted their price target on shares of Analog Devices from $195.00 to $225.00 and gave the company a buy rating in a report on Thursday, February 16th. Bank of America upped their price objective on shares of Analog Devices from $230.00 to $250.00 and gave the stock a buy rating in a report on Tuesday, April 4th. The Goldman Sachs Group upped their price objective on shares of Analog Devices from $186.00 to $210.00 and gave the stock a buy rating in a report on Thursday, February 16th. KeyCorp decreased their price objective on shares of Analog Devices from $230.00 to $220.00 and set an overweight rating for the company in a report on Thursday. Finally, Oppenheimer decreased their price target on shares of Analog Devices from $230.00 to $215.00 in a report on Thursday. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Analog Devices has an average rating of Moderate Buy and a consensus price target of $208.17.

Analog Devices Stock Performance

NASDAQ ADI opened at $172.39 on Friday. The firm has a market cap of $87.20 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.44 and a beta of 1.15. The company has a 50 day moving average of $186.11 and a 200-day moving average of $176.80. The company has a current ratio of 2.12, a quick ratio of 1.50 and a debt-to-equity ratio of 0.18. Analog Devices has a 1-year low of $133.48 and a 1-year high of $198.24.

Analog Devices (NASDAQ:ADI – Get Rating) last posted its quarterly earnings data on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.08. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.21 billion. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $2.40 earnings per share. On average, equities analysts forecast that Analog Devices will post 10.65 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Monday, June 5th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, June 2nd. Analog Devices’s payout ratio is 51.89%.

Insider Activity

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

Institutional Investors Weigh In On Analog Devices

Several hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. acquired a new stake in Analog Devices in the first quarter worth $400,000. B. Riley Wealth Advisors Inc. raised its holdings in Analog Devices by 0.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,117 shares of the semiconductor company’s stock worth $1,798,000 after purchasing an additional 70 shares during the period. Advisory Services Network LLC raised its holdings in Analog Devices by 12.0% in the first quarter. Advisory Services Network LLC now owns 26,695 shares of the semiconductor company’s stock worth $5,265,000 after purchasing an additional 2,858 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Analog Devices by 15.2% in the first quarter. Rockefeller Capital Management L.P. now owns 323,144 shares of the semiconductor company’s stock worth $63,728,000 after purchasing an additional 42,672 shares during the period. Finally, Providence Capital Advisors LLC acquired a new stake in Analog Devices in the first quarter worth $77,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Company Profile

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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.