Analog Devices, Inc. (NASDAQ:ADI) to Post Q2 2024 Earnings of $1.26 Per Share, Zacks Research Forecasts

Analog Devices, Inc. (NASDAQ:ADIFree Report) – Zacks Research lowered their Q2 2024 EPS estimates for shares of Analog Devices in a note issued to investors on Wednesday, May 8th. Zacks Research analyst S. Mete now expects that the semiconductor company will post earnings of $1.26 per share for the quarter, down from their prior forecast of $1.28. The consensus estimate for Analog Devices’ current full-year earnings is $5.86 per share. Zacks Research also issued estimates for Analog Devices’ FY2024 earnings at $5.79 EPS, FY2025 earnings at $6.98 EPS and FY2026 earnings at $9.43 EPS.

A number of other research analysts also recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. Evercore ISI started coverage on shares of Analog Devices in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target for the company. KeyCorp raised their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Barclays increased their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Finally, Truist Financial lowered their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

View Our Latest Report on Analog Devices

Analog Devices Trading Up 1.2 %

Shares of ADI stock opened at $207.19 on Friday. The stock has a market capitalization of $102.75 billion, a P/E ratio of 37.06, a P/E/G ratio of 5.10 and a beta of 1.14. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $195.45 and its 200 day moving average is $189.11. Analog Devices has a 12-month low of $154.99 and a 12-month high of $207.76.

Analog Devices (NASDAQ:ADIGet Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business earned $2.75 EPS. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis.

Hedge Funds Weigh In On Analog Devices

Large investors have recently modified their holdings of the business. Pinnacle Bancorp Inc. grew its position in shares of Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares in the last quarter. USA Financial Formulas grew its stake in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Cetera Trust Company N.A purchased a new position in Analog Devices in the fourth quarter valued at $29,000. Private Wealth Management Group LLC purchased a new stake in Analog Devices during the fourth quarter worth approximately $29,000. Finally, Riverview Trust Co purchased a new position in Analog Devices in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 over the last quarter. Insiders own 0.31% of the company’s stock.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.78%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is currently 65.83%.

About Analog Devices

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. 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 consumer markets; and power ICs that 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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