Analog Devices (NASDAQ:ADI) Releases Earnings Results, Beats Estimates By $0.04 EPS

Analog Devices (NASDAQ:ADI) released its quarterly earnings data on Wednesday. The semiconductor company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.04, Briefing.com reports. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the business earned $1.53 earnings per share. Analog Devices’s revenue was down 5.0% compared to the same quarter last year. Analog Devices updated its Q4 guidance to $1.15-1.29 EPS.

ADI traded down $1.70 on Wednesday, reaching $108.59. The company had a trading volume of 3,194,588 shares, compared to its average volume of 2,710,393. The business has a 50 day simple moving average of $114.37 and a 200 day simple moving average of $109.10. The company has a market cap of $40.87 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.71 and a beta of 1.41. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.52. Analog Devices has a 52-week low of $76.62 and a 52-week high of $124.79.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Friday, August 30th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.99%. Analog Devices’s dividend payout ratio is currently 36.36%.

A number of equities analysts have recently commented on ADI shares. Zacks Investment Research lowered shares of Analog Devices from a “hold” rating to a “strong sell” rating and set a $102.00 price objective for the company. in a research report on Wednesday, May 29th. Morgan Stanley cut their price objective on shares of Analog Devices from $100.00 to $97.00 and set an “equal weight” rating for the company in a research report on Thursday, May 23rd. Nomura started coverage on shares of Analog Devices in a research report on Monday, June 3rd. They issued a “neutral” rating and a $90.00 price objective for the company. Royal Bank of Canada cut their price objective on shares of Analog Devices from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. Finally, ValuEngine upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $109.94.

In related news, SVP Yusuf Jamal sold 31,867 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $98.19, for a total value of $3,129,020.73. Following the sale, the senior vice president now directly owns 2,124 shares of the company’s stock, valued at $208,555.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph Hassett sold 10,040 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $109.38, for a total transaction of $1,098,175.20. Following the completion of the sale, the senior vice president now directly owns 32,400 shares in the company, valued at $3,543,912. The disclosure for this sale can be found here. Insiders sold 102,266 shares of company stock worth $11,006,074 over the last ninety days. 0.50% of the stock is currently owned by insiders.

About Analog Devices

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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Earnings History for Analog Devices (NASDAQ:ADI)

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