Analog Devices (NASDAQ:ADI) Releases Q3 2024 Earnings Guidance

Analog Devices (NASDAQ:ADI) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.400-1.600 for the period, compared to the consensus earnings per share estimate of 1.350. The company issued revenue guidance of $2.2 billion-$2.4 billion, compared to the consensus revenue estimate of $2.2 billion. Analog Devices also updated its Q3 guidance to $1.40-$1.60 EPS.

Analog Devices Trading Down 0.9 %

ADI stock opened at $232.51 on Friday. The company has a market capitalization of $115.38 billion, a price-to-earnings ratio of 54.32, a PEG ratio of 6.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 0.98. Analog Devices has a 1-year low of $154.99 and a 1-year high of $241.88. The business has a 50 day simple moving average of $200.67 and a two-hundred day simple moving average of $193.49.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the company earned $2.83 EPS. The company’s quarterly revenue was down 33.8% compared to the same quarter last year. Research analysts anticipate that Analog Devices will post 5.86 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Analysts Set New Price Targets

A number of analysts recently issued reports on ADI shares. Evercore ISI initiated coverage on Analog Devices in a research report on Tuesday, April 16th. They issued an outperform rating and a $254.00 price target for the company. Barclays upped their target price on Analog Devices from $185.00 to $210.00 and gave the company an equal weight rating in a research note on Monday, May 20th. Cantor Fitzgerald raised their price target on Analog Devices from $205.00 to $240.00 and gave the stock a neutral rating in a research note on Wednesday, May 15th. Needham & Company LLC reiterated a hold rating on shares of Analog Devices in a research report on Thursday. Finally, Susquehanna boosted their price target on Analog Devices from $230.00 to $280.00 and gave the company a positive rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Analog Devices has a consensus rating of Moderate Buy and a consensus price target of $239.42.

Insider Transactions at Analog Devices

In related news, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock valued at $4,874,613 over the last ninety days. Insiders own 0.31% of the company’s stock.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. 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 consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.