$1.57 Billion in Sales Expected for Analog Devices, Inc. (ADI) This Quarter

Brokerages expect Analog Devices, Inc. (NASDAQ:ADI) to report $1.57 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Analog Devices’ earnings, with the lowest sales estimate coming in at $1.57 billion and the highest estimate coming in at $1.59 billion. Analog Devices posted sales of $1.54 billion in the same quarter last year, which would suggest a positive year over year growth rate of 1.9%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 20th.

On average, analysts expect that Analog Devices will report full year sales of $6.18 billion for the current year, with estimates ranging from $6.17 billion to $6.19 billion. For the next year, analysts expect that the company will post sales of $6.36 billion, with estimates ranging from $6.17 billion to $6.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Analog Devices.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.07. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.51 billion. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share.

A number of brokerages recently commented on ADI. Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Thursday, August 23rd. Stifel Nicolaus raised their price objective on shares of Analog Devices from $108.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Nomura began coverage on shares of Analog Devices in a research report on Wednesday, July 18th. They issued a “neutral” rating and a $100.00 price objective for the company. BidaskClub downgraded shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. Finally, Loop Capital began coverage on shares of Analog Devices in a research report on Thursday, June 21st. They issued a “buy” rating and a $117.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $106.77.

NASDAQ:ADI traded up $0.50 during mid-day trading on Friday, reaching $84.17. The stock had a trading volume of 3,573,665 shares, compared to its average volume of 2,777,109. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.60. The company has a market cap of $34.36 billion, a P/E ratio of 17.83, a PEG ratio of 1.27 and a beta of 1.20. Analog Devices has a twelve month low of $80.95 and a twelve month high of $103.59.

Analog Devices declared that its Board of Directors has authorized a share buyback program on Tuesday, August 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 5.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

In other news, Director Ray Stata sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $100.30, for a total transaction of $2,006,000.00. Following the completion of the transaction, the director now directly owns 171,936 shares of the company’s stock, valued at approximately $17,245,180.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $95.43, for a total transaction of $954,300.00. Following the transaction, the chief executive officer now directly owns 19,699 shares of the company’s stock, valued at $1,879,875.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,645 shares of company stock valued at $8,862,608. Corporate insiders own 0.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Baird Financial Group Inc. increased its stake in shares of Analog Devices by 7.9% during the 2nd quarter. Baird Financial Group Inc. now owns 133,108 shares of the semiconductor company’s stock worth $12,768,000 after purchasing an additional 9,798 shares in the last quarter. Home Federal Bank of Tennessee purchased a new stake in Analog Devices in the 2nd quarter worth approximately $2,067,000. HRT Financial LLC purchased a new stake in Analog Devices in the 2nd quarter worth approximately $1,013,000. Alps Advisors Inc. purchased a new stake in Analog Devices in the 2nd quarter worth approximately $272,000. Finally, Swiss National Bank grew its stake in Analog Devices by 3.3% in the 2nd quarter. Swiss National Bank now owns 1,221,748 shares of the semiconductor company’s stock worth $117,190,000 after acquiring an additional 39,100 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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Earnings History and Estimates for Analog Devices (NASDAQ:ADI)

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