KeyCorp Equities Analysts Increase Earnings Estimates for Analog Devices, Inc. (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADIGet Rating) – Investment analysts at KeyCorp upped their Q3 2022 earnings estimates for shares of Analog Devices in a research note issued on Wednesday, May 18th. KeyCorp analyst J. Vinh now anticipates that the semiconductor company will post earnings of $2.40 per share for the quarter, up from their prior estimate of $2.34. KeyCorp also issued estimates for Analog Devices’ Q4 2022 earnings at $2.49 EPS, FY2022 earnings at $9.22 EPS, Q1 2023 earnings at $2.50 EPS, Q2 2023 earnings at $2.55 EPS, Q3 2023 earnings at $2.63 EPS, Q4 2023 earnings at $2.60 EPS and FY2023 earnings at $10.28 EPS.

Analog Devices (NASDAQ:ADIGet Rating) last announced its quarterly earnings data on Wednesday, May 18th. The semiconductor company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.29. Analog Devices had a return on equity of 12.11% and a net margin of 16.84%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the firm posted $1.54 earnings per share. The company’s revenue was up 78.9% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on ADI. UBS Group cut their price target on Analog Devices to $210.00 and set a “hold” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on Analog Devices from $200.00 to $185.00 and set a “hold” rating on the stock in a research report on Thursday, February 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Analog Devices in a research report on Monday. Morgan Stanley lifted their price objective on Analog Devices from $194.00 to $196.00 and gave the stock an “equal weight” rating in a report on Thursday, February 17th. Finally, Citigroup decreased their price objective on Analog Devices from $216.00 to $192.00 and set a “buy” rating on the stock in a report on Thursday, February 17th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Analog Devices has a consensus rating of “Buy” and a consensus target price of $199.52.

Shares of NASDAQ ADI opened at $160.94 on Friday. Analog Devices has a one year low of $143.81 and a one year high of $191.95. The firm has a market capitalization of $84.22 billion, a PE ratio of 45.59, a PEG ratio of 1.55 and a beta of 1.07. The company has a current ratio of 1.99, a quick ratio of 1.65 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $159.34 and a two-hundred day moving average price of $166.69.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Analog Devices in the fourth quarter worth $1,092,374,000. Invesco Ltd. grew its stake in shares of Analog Devices by 130.1% during the third quarter. Invesco Ltd. now owns 7,773,386 shares of the semiconductor company’s stock valued at $1,301,887,000 after buying an additional 4,395,168 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Analog Devices by 73.5% during the third quarter. Wellington Management Group LLP now owns 8,524,894 shares of the semiconductor company’s stock valued at $1,427,749,000 after buying an additional 3,612,571 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Analog Devices by 47.9% during the third quarter. Geode Capital Management LLC now owns 8,527,098 shares of the semiconductor company’s stock valued at $1,423,976,000 after buying an additional 2,763,532 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of Analog Devices by 473.2% in the first quarter. Baillie Gifford & Co. now owns 2,267,156 shares of the semiconductor company’s stock worth $374,488,000 after purchasing an additional 1,871,658 shares during the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

In related news, Director Tunc Doluca sold 4,700 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $166.50, for a total transaction of $782,550.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 14,000 shares of company stock worth $2,315,422. 0.91% of the stock is owned by company insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Tuesday, May 31st will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Friday, May 27th. Analog Devices’s dividend payout ratio is 86.12%.

Analog Devices Company Profile (Get Rating)

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 include performance, integration, and software design simulation tools for accurate power supply designs.

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

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