Analog Devices (NASDAQ:ADI) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Analog Devices (NASDAQ:ADI) announced its earnings results on Wednesday. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.03, MarketWatch Earnings reports. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Analog Devices had a return on equity of 14.51% and a net margin of 20.05%. Analog Devices’s quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 earnings per share. Analog Devices updated its Q3 2020
Pre-Market guidance to 0.97-1.19 EPS and its Q3 guidance to $0.97-1.19 EPS.

Analog Devices stock opened at $111.06 on Friday. The firm has a market cap of $40.90 billion, a price-to-earnings ratio of 37.27, a PEG ratio of 2.07 and a beta of 1.37. The stock has a fifty day simple moving average of $102.33 and a two-hundred day simple moving average of $109.51. Analog Devices has a 12 month low of $79.07 and a 12 month high of $127.30. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 0.44.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Friday, May 29th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, May 28th. Analog Devices’s payout ratio is 48.16%.

In other news, Director Edward H. Frank sold 8,460 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $113.42, for a total value of $959,533.20. Following the transaction, the director now directly owns 19,775 shares in the company, valued at approximately $2,242,880.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Gregory N. Henderson sold 883 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $100.00, for a total value of $88,300.00. Following the completion of the transaction, the senior vice president now owns 5,826 shares in the company, valued at $582,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,574 shares of company stock worth $1,387,634. Company insiders own 0.42% of the company’s stock.

Several research analysts recently issued reports on the company. Bank of America lifted their target price on Analog Devices from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday. Deutsche Bank boosted their target price on Analog Devices from $110.00 to $115.00 and gave the company a “hold” rating in a research note on Thursday. Oppenheimer reiterated a “buy” rating and set a $140.00 price objective on shares of Analog Devices in a research note on Thursday, May 14th. Morgan Stanley boosted their target price on Analog Devices from $95.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Analog Devices from $134.00 to $119.00 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $121.70.

Analog Devices Company Profile

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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