Zacks: Brokerages Expect Analog Devices, Inc. (NASDAQ:ADI) to Post $2.42 Earnings Per Share

Analysts expect Analog Devices, Inc. (NASDAQ:ADIGet Rating) to announce earnings per share of $2.42 for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Analog Devices’ earnings. The highest EPS estimate is $2.47 and the lowest is $2.40. Analog Devices posted earnings per share of $1.72 in the same quarter last year, which would suggest a positive year-over-year growth rate of 40.7%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Analog Devices will report full-year earnings of $9.24 per share for the current year, with EPS estimates ranging from $9.02 to $9.36. For the next year, analysts forecast that the business will post earnings of $10.10 per share, with EPS estimates ranging from $9.56 to $10.39. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Analog Devices.

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

A number of research firms have commented on ADI. Truist Financial boosted their price objective on Analog Devices from $194.00 to $203.00 and gave the stock a “buy” rating in a research note on Thursday, May 19th. Morgan Stanley upped their price target on Analog Devices from $194.00 to $196.00 and gave the company an “equal weight” rating in a research note on Thursday, February 17th. Daiwa Capital Markets cut their price target on Analog Devices from $217.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, February 17th. StockNews.com began coverage on Analog Devices in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, UBS Group cut their price target on Analog Devices to $210.00 and set a “hold” rating on the stock in a research note on Thursday, May 19th. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Buy” and a consensus price target of $199.52.

In related news, CFO Prashanth Mahendra-Rajah sold 3,901 shares of the stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $163.14, for a total transaction of $636,409.14. Following the completion of the transaction, the chief financial officer now directly owns 16,108 shares in the company, valued at $2,627,859.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tunc Doluca sold 4,600 shares of the stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $170.00, for a total value of $782,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,901 shares of company stock valued at $2,951,831. 0.91% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Soros Fund Management LLC boosted its position in Analog Devices by 41.0% during the third quarter. Soros Fund Management LLC now owns 250,903 shares of the semiconductor company’s stock valued at $42,021,000 after purchasing an additional 72,999 shares during the last quarter. Chartwell Investment Partners LLC acquired a new stake in shares of Analog Devices in the third quarter valued at approximately $1,226,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Analog Devices in the third quarter valued at approximately $38,489,000. Comerica Bank lifted its position in shares of Analog Devices by 7.5% in the third quarter. Comerica Bank now owns 71,697 shares of the semiconductor company’s stock valued at $12,792,000 after buying an additional 4,976 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Analog Devices by 251.8% in the third quarter. Thrivent Financial for Lutherans now owns 114,285 shares of the semiconductor company’s stock valued at $19,141,000 after buying an additional 81,796 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Analog Devices stock opened at $167.55 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.65 and a current ratio of 1.99. The firm has a market cap of $87.09 billion, a P/E ratio of 47.46, a P/E/G ratio of 1.53 and a beta of 1.07. The business’s fifty day moving average is $160.10 and its two-hundred day moving average is $165.81. Analog Devices has a 52 week low of $143.81 and a 52 week high of $191.95.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Shareholders of record on Tuesday, May 31st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Friday, May 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.81%. Analog Devices’s dividend payout ratio (DPR) is currently 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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