Analog Devices (NASDAQ:ADI) Releases Earnings Results, Beats Expectations By $0.15 EPS

Analog Devices (NASDAQ:ADIGet Rating) released its quarterly earnings data on Tuesday. The semiconductor company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.15, RTT News reports. Analog Devices had a net margin of 22.88% and a return on equity of 13.58%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the company earned $1.73 EPS. The company’s revenue for the quarter was up 38.8% compared to the same quarter last year. 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 Performance

ADI stock opened at $169.20 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 2.02. The stock has a market cap of $87.03 billion, a P/E ratio of 32.05, a P/E/G ratio of 1.46 and a beta of 1.11. The firm has a 50 day simple moving average of $147.66 and a 200 day simple moving average of $154.99. Analog Devices has a 52 week low of $133.48 and a 52 week high of $188.20.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, December 5th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Friday, December 2nd. Analog Devices’s payout ratio is 57.58%.

Insider Buying and Selling

In related news, Director Tunc Doluca sold 1,700 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $160.00, for a total transaction of $272,000.00. Following the completion of the sale, the director now directly owns 68,657 shares in the company, valued at $10,985,120. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Institutional Trading of Analog Devices

Several institutional investors have recently made changes to their positions in ADI. Worth Asset Management LLC bought a new position in Analog Devices during the first quarter valued at approximately $33,000. Fairfield Bush & CO. bought a new position in Analog Devices during the first quarter valued at approximately $82,000. Parkside Financial Bank & Trust raised its position in Analog Devices by 38.0% during the first quarter. Parkside Financial Bank & Trust now owns 897 shares of the semiconductor company’s stock valued at $148,000 after acquiring an additional 247 shares in the last quarter. qPULA Trading Management LP bought a new position in Analog Devices during the first quarter valued at approximately $231,000. Finally, EP Wealth Advisors LLC bought a new position in Analog Devices during the first quarter valued at approximately $235,000. 85.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ADI shares. Cowen raised their target price on shares of Analog Devices from $180.00 to $190.00 in a research note on Wednesday. StockNews.com started coverage on shares of Analog Devices in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Analog Devices from $155.00 to $170.00 in a research note on Wednesday. Oppenheimer reissued an “outperform” rating and set a $210.00 target price on shares of Analog Devices in a research note on Friday, November 18th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $185.00 target price on shares of Analog Devices in a research note on Wednesday, November 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.65.

Analog Devices Company Profile

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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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Earnings History for Analog Devices (NASDAQ:ADI)

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