Analog Devices (NASDAQ:ADI – Get Rating) released its quarterly earnings results on Tuesday. The semiconductor company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.15, RTT News reports. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.16 billion. Analog Devices had a return on equity of 13.58% and a net margin of 22.88%. Analog Devices’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 EPS. Analog Devices updated its Q1 guidance to $2.50-2.70 EPS and its Q1 2023 guidance to $2.50-$2.70 EPS.
Analog Devices Stock Up 0.5 %
ADI traded up $0.77 during trading on Thursday, hitting $169.20. 3,851,895 shares of the company’s stock traded hands, compared to its average volume of 4,247,271. The company’s 50 day simple moving average is $147.66 and its two-hundred day simple moving average is $154.99. The company has a current ratio of 2.02, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. Analog Devices has a 12-month low of $133.48 and a 12-month high of $188.20. The stock has a market capitalization of $87.03 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 1.46 and a beta of 1.11.
Analog Devices Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, December 5th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, December 2nd. This represents a $3.04 annualized dividend and a yield of 1.80%. Analog Devices’s dividend payout ratio is 57.58%.
Insider Transactions at Analog Devices
Hedge Funds Weigh In On Analog Devices
A number of institutional investors and hedge funds have recently modified their holdings of ADI. Markel Corp boosted its stake in shares of Analog Devices by 1.4% in the 1st quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company’s stock worth $178,034,000 after buying an additional 15,150 shares during the last quarter. Fairfield Bush & CO. purchased a new position in Analog Devices during the first quarter valued at $82,000. United Bank lifted its position in Analog Devices by 24.7% during the first quarter. United Bank now owns 6,647 shares of the semiconductor company’s stock valued at $1,098,000 after purchasing an additional 1,315 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in Analog Devices by 34.7% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,599 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 412 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Analog Devices by 14.5% during the first quarter. Canada Pension Plan Investment Board now owns 116,085 shares of the semiconductor company’s stock valued at $19,175,000 after purchasing an additional 14,718 shares in the last quarter. 85.22% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Needham & Company LLC lowered Analog Devices from a “buy” rating to a “hold” rating in a research report on Thursday, August 18th. Deutsche Bank Aktiengesellschaft increased their target price on Analog Devices from $155.00 to $170.00 in a research report on Wednesday. Barclays increased their target price on Analog Devices from $140.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Piper Sandler decreased their target price on Analog Devices from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, August 18th. Finally, Sanford C. Bernstein raised their price objective on Analog Devices from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $191.65.
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 include performance, integration, and software design simulation tools for accurate power supply designs.
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