Analog Devices (NASDAQ:ADI) Releases Earnings Results

Analog Devices (NASDAQ:ADI) issued its quarterly earnings results on Tuesday. The semiconductor company reported $2.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.01), RTT News reports. Analog Devices had a net margin of 29.23% and a return on equity of 15.20%. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the previous year, the business posted $2.73 EPS. The company’s revenue for the quarter was down 16.4% on a year-over-year basis. Analog Devices updated its Q1 guidance to $1.60-1.80 EPS.

Analog Devices Stock Up 0.4 %

Shares of NASDAQ ADI opened at $183.82 on Tuesday. The business’s fifty day moving average price is $171.74 and its 200-day moving average price is $180.78. Analog Devices has a one year low of $154.99 and a one year high of $200.10. The stock has a market capitalization of $91.60 billion, a PE ratio of 24.98, a P/E/G ratio of 2.25 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.71 and a quick ratio of 1.10.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, September 5th were paid a $0.86 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.44 annualized dividend and a dividend yield of 1.87%. Analog Devices’s payout ratio is presently 46.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Analog Devices in a research report on Thursday, October 5th. They set a “hold” rating for the company. Evercore ISI boosted their price objective on Analog Devices from $200.00 to $210.00 in a research report on Thursday, October 5th. UBS Group dropped their target price on Analog Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, November 13th. Oppenheimer restated an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a report on Thursday, August 24th. Finally, Raymond James dropped their price objective on shares of Analog Devices from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, August 24th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average target price of $205.46.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $182.60, for a total transaction of $1,826,000.00. Following the sale, the chief executive officer now owns 70,713 shares of the company’s stock, valued at approximately $12,912,193.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by company insiders.

Institutional Trading of Analog Devices

Several institutional investors and hedge funds have recently modified their holdings of ADI. Norges Bank purchased a new stake in Analog Devices in the fourth quarter valued at approximately $1,040,194,000. Moneta Group Investment Advisors LLC increased its position in shares of Analog Devices by 101,479.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock valued at $674,482,000 after purchasing an additional 4,107,895 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Analog Devices by 236.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock valued at $450,446,000 after buying an additional 1,625,377 shares in the last quarter. Barclays PLC boosted its stake in Analog Devices by 111.6% in the second quarter. Barclays PLC now owns 1,596,945 shares of the semiconductor company’s stock worth $311,100,000 after buying an additional 842,406 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Analog Devices by 16.1% during the fourth quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock worth $982,344,000 after acquiring an additional 830,281 shares in the last quarter. Hedge funds and other institutional investors own 85.55% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.