Equities research analysts predict that Analog Devices, Inc. (NASDAQ:ADI) will post $2.61 billion in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Analog Devices' earnings, with the lowest sales estimate coming in at $2.60 billion and the highest estimate coming in at $2.64 billion. Analog Devices reported sales of $1.56 billion in the same quarter last year, which indicates a positive year over year growth rate of 67.3%. The company is scheduled to issue its next quarterly earnings results on Wednesday, February 16th.
On average, analysts expect that Analog Devices will report full-year sales of $10.61 billion for the current year, with estimates ranging from $10.15 billion to $10.85 billion. For the next financial year, analysts forecast that the business will report sales of $10.90 billion, with estimates ranging from $10.59 billion to $11.10 billion. Zacks' sales averages are an average based on a survey of research analysts that that provide coverage for Analog Devices.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 23rd. The semiconductor company reported $1.73 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.70 by $0.03. Analog Devices had a return on equity of 13.92% and a net margin of 19.00%. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the company earned $1.44 earnings per share. The business's revenue was up 53.3% compared to the same quarter last year.
Several research analysts have recently commented on the company. Stifel Nicolaus lifted their target price on Analog Devices from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, August 19th. Raymond James lifted their target price on Analog Devices from $185.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday. BMO Capital Markets lifted their target price on Analog Devices from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Tuesday. Citigroup lifted their price target on Analog Devices from $191.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Piper Sandler lifted their price target on Analog Devices from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $196.48.
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $168.09, for a total value of $1,680,900.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce R. Evans purchased 8,001 shares of Analog Devices stock in a transaction on Wednesday, October 6th. The stock was bought at an average price of $164.98 per share, for a total transaction of $1,320,004.98. The disclosure for this purchase can be found here. In the last quarter, insiders sold 31,100 shares of company stock worth $5,382,960. Corporate insiders own 0.91% of the company's stock.
Large investors have recently made changes to their positions in the company. Independence Bank of Kentucky raised its stake in Analog Devices by 113.3% during the 3rd quarter. Independence Bank of Kentucky now owns 160 shares of the semiconductor company's stock worth $27,000 after buying an additional 85 shares during the period. CNB Bank acquired a new position in Analog Devices during the 3rd quarter worth approximately $27,000. Asset Dedication LLC raised its stake in Analog Devices by 184.5% during the 3rd quarter. Asset Dedication LLC now owns 165 shares of the semiconductor company's stock worth $28,000 after buying an additional 107 shares during the period. Strategic Blueprint LLC acquired a new position in Analog Devices during the 2nd quarter worth approximately $31,000. Finally, Sugarloaf Wealth Management LLC acquired a new position in Analog Devices during the 3rd quarter worth approximately $32,000. 99.41% of the stock is currently owned by institutional investors.
Shares of NASDAQ ADI opened at $178.00 on Friday. The company has a current ratio of 1.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.16. Analog Devices has a 12 month low of $137.10 and a 12 month high of $191.95. The stock has a 50 day moving average of $176.25 and a 200-day moving average of $168.94. The company has a market capitalization of $65.54 billion, a P/E ratio of 48.24, a P/E/G ratio of 2.54 and a beta of 1.16.
Analog Devices declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 25th that allows the company to repurchase $8.50 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 13.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 14th. Stockholders of record on Friday, December 3rd will be paid a $0.69 dividend. The ex-dividend date of this dividend is Thursday, December 2nd. This represents a $2.76 annualized dividend and a dividend yield of 1.55%. Analog Devices's payout ratio is 74.80%.
About Analog Devices
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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