Analog Devices (ADI) to Release Quarterly Earnings on Tuesday

Analog Devices (NASDAQ:ADI) will be announcing its earnings results before the market opens on Tuesday, November 21st. Analysts expect the company to announce earnings of $2.02 per share for the quarter. Analog Devices has set its Q4 guidance at $1.90-2.10 EPS and its Q4 2023 guidance at $1.90-$2.10 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.03). The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.10 billion. Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.52 earnings per share. On average, analysts expect Analog Devices to post $10 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Analog Devices Stock Performance

ADI opened at $170.66 on Tuesday. The firm has a market capitalization of $85.04 billion, a PE ratio of 23.19, a PEG ratio of 2.14 and a beta of 1.16. Analog Devices has a twelve month low of $154.99 and a twelve month high of $200.10. The firm’s 50-day moving average price is $171.59 and its 200 day moving average price is $180.82. The company has a current ratio of 1.71, a quick ratio of 1.10 and a debt-to-equity ratio of 0.18.

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 issued a $0.86 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.44 annualized dividend and a yield of 2.02%. Analog Devices’s payout ratio is 46.74%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $182.60, for a total value of $1,826,000.00. Following the sale, the chief executive officer now directly 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 SEC, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Analog Devices

Large investors have recently modified their holdings of the company. Orion Portfolio Solutions LLC boosted its holdings in shares of Analog Devices by 182.2% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 22,701 shares of the semiconductor company’s stock valued at $4,422,000 after buying an additional 14,656 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Analog Devices by 2.4% in the 2nd quarter. Sunbelt Securities Inc. now owns 4,094 shares of the semiconductor company’s stock valued at $798,000 after buying an additional 97 shares in the last quarter. National Pension Service boosted its holdings in shares of Analog Devices by 4.1% in the 2nd quarter. National Pension Service now owns 869,715 shares of the semiconductor company’s stock valued at $164,794,000 after buying an additional 34,275 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Analog Devices by 236.6% in 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. Finally, Equitable Holdings Inc. boosted its holdings in shares of Analog Devices by 25.4% in the 2nd quarter. Equitable Holdings Inc. now owns 2,132 shares of the semiconductor company’s stock valued at $415,000 after buying an additional 432 shares in the last quarter. 85.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ADI. StockNews.com began coverage on shares of Analog Devices in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Susquehanna reiterated a “positive” rating and issued a $215.00 target price on shares of Analog Devices in a report on Monday, September 18th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a report on Thursday, August 24th. Wolfe Research began coverage on shares of Analog Devices in a report on Wednesday, July 19th. They issued a “market perform” rating on the stock. Finally, Raymond James decreased their target price on shares of Analog Devices from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, August 24th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $203.42.

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.