Wall Street analysts expect Analog Devices, Inc. (NASDAQ:ADI) to announce earnings per share (EPS) of $1.28 for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Analog Devices’ earnings. The lowest EPS estimate is $1.26 and the highest is $1.28. Analog Devices posted earnings of $1.42 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 9.9%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 27th.
According to Zacks, analysts expect that Analog Devices will report full-year earnings of $5.50 per share for the current financial year, with EPS estimates ranging from $5.21 to $5.90. For the next financial year, analysts anticipate that the firm will report earnings of $5.99 per share, with EPS estimates ranging from $5.79 to $6.29. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Analog Devices.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 20th. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.03. Analog Devices had a return on equity of 20.88% and a net margin of 24.12%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm posted $1.45 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis.
ADI has been the subject of a number of analyst reports. Zacks Investment Research lowered Analog Devices from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. ValuEngine upgraded Analog Devices from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. B. Riley cut their price objective on Analog Devices from $120.00 to $117.00 and set a “buy” rating for the company in a report on Thursday, August 23rd. Stifel Nicolaus upped their price objective on Analog Devices from $108.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. Finally, BidaskClub lowered Analog Devices from a “hold” rating to a “sell” rating in a report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $100.52.
ADI stock traded down $3.11 during trading on Friday, reaching $86.42. 2,960,900 shares of the company’s stock were exchanged, compared to its average volume of 3,172,490. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.50. Analog Devices has a 1-year low of $76.62 and a 1-year high of $103.59. The firm has a market capitalization of $33.14 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27.
Analog Devices announced that its Board of Directors has approved a stock repurchase plan on Tuesday, August 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 29th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, November 28th. Analog Devices’s dividend payout ratio is 32.32%.
In other news, SVP Margaret K. Seif sold 2,700 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $92.81, for a total transaction of $250,587.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $92.81, for a total value of $928,100.00. Following the sale, the chief executive officer now directly owns 27,376 shares of the company’s stock, valued at $2,540,766.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,800 shares of company stock valued at $4,601,096. 1.10% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. CIBC Asset Management Inc raised its position in Analog Devices by 1.1% during the third quarter. CIBC Asset Management Inc now owns 54,482 shares of the semiconductor company’s stock valued at $5,037,000 after buying an additional 610 shares during the period. Mutual of America Capital Management LLC raised its position in Analog Devices by 1.0% during the second quarter. Mutual of America Capital Management LLC now owns 59,339 shares of the semiconductor company’s stock valued at $5,692,000 after buying an additional 615 shares during the period. Avestar Capital LLC raised its position in Analog Devices by 26.1% during the third quarter. Avestar Capital LLC now owns 3,008 shares of the semiconductor company’s stock valued at $262,000 after buying an additional 622 shares during the period. McCollum Christoferson Group LLC raised its position in Analog Devices by 1.4% during the third quarter. McCollum Christoferson Group LLC now owns 45,542 shares of the semiconductor company’s stock valued at $4,211,000 after buying an additional 645 shares during the period. Finally, Barings LLC raised its position in Analog Devices by 1.6% during the third quarter. Barings LLC now owns 42,486 shares of the semiconductor company’s stock valued at $3,929,000 after buying an additional 668 shares during the period. 89.57% of the stock is currently owned by hedge funds and other institutional investors.
About Analog Devices
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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