Analog Devices, Inc. Forecasted to Post Q2 2019 Earnings of $1.36 Per Share (ADI)

Analog Devices, Inc. (NASDAQ:ADI) – Equities researchers at SunTrust Banks dropped their Q2 2019 EPS estimates for Analog Devices in a note issued to investors on Tuesday, November 20th. SunTrust Banks analyst W. Stein now expects that the semiconductor company will post earnings per share of $1.36 for the quarter, down from their previous forecast of $1.47. SunTrust Banks has a “Buy” rating and a $118.00 price objective on the stock.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 20th. The semiconductor company reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.03. Analog Devices had a return on equity of 20.88% and a net margin of 24.12%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company posted $1.45 EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year.

ADI has been the subject of a number of other reports. Morgan Stanley decreased their price objective on Analog Devices from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, October 3rd. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Thursday, August 23rd. Raymond James raised their price objective on Analog Devices from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, August 23rd. ValuEngine lowered Analog Devices from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Finally, B. Riley raised their price objective on Analog Devices to $105.00 and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $101.10.

Shares of NASDAQ ADI opened at $88.64 on Thursday. Analog Devices has a one year low of $76.62 and a one year high of $103.59. The stock has a market cap of $33.33 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.50 and a quick ratio of 1.16.

A number of institutional investors and hedge funds have recently bought and sold shares of ADI. Fox Run Management L.L.C. acquired a new stake in Analog Devices in the 2nd quarter worth approximately $293,000. Cornerstone Wealth Management LLC bought a new position in Analog Devices in the 2nd quarter worth approximately $392,000. Whittier Trust Co. increased its position in Analog Devices by 34.8% in the 2nd quarter. Whittier Trust Co. now owns 5,859 shares of the semiconductor company’s stock worth $317,000 after buying an additional 1,512 shares during the period. Steward Partners Investment Advisory LLC increased its position in Analog Devices by 13.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 11,078 shares of the semiconductor company’s stock worth $1,063,000 after buying an additional 1,316 shares during the period. Finally, Sumitomo Life Insurance Co. increased its position in Analog Devices by 4.1% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 15,542 shares of the semiconductor company’s stock worth $1,491,000 after buying an additional 607 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

In related news, SVP Margaret K. Seif sold 2,700 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $97.19, for a total value of $262,413.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joseph Hassett sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $100.40, for a total value of $1,204,800.00. Following the completion of the sale, the senior vice president now owns 26,711 shares of the company’s stock, valued at $2,681,784.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,450 shares of company stock valued at $8,805,549. 1.10% of the stock is owned by corporate insiders.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 29th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, November 28th. This represents a $1.92 annualized dividend and a dividend yield of 2.17%. Analog Devices’s dividend payout ratio is 32.32%.

Analog Devices declared that its Board of Directors has approved a stock buyback program on Tuesday, August 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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

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