Analog Devices (NASDAQ:ADI) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Analog Devices (NASDAQ:ADI – Get Rating) issued its quarterly earnings data on Wednesday. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.08, RTT News reports. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.21 billion. Analog Devices had a net margin of 28.16% and a return on equity of 15.27%. Analog Devices’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $2.40 earnings per share. Analog Devices updated its Q3 guidance to $2.42-2.62 EPS.

Analog Devices Trading Up 1.4 %

NASDAQ:ADI traded up $2.38 on Friday, hitting $174.77. The stock had a trading volume of 1,855,137 shares, compared to its average volume of 3,325,087. The company has a quick ratio of 1.50, a current ratio of 1.79 and a debt-to-equity ratio of 0.18. The stock has a market cap of $88.41 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.33 and a beta of 1.15. The company has a fifty day moving average price of $186.11 and a two-hundred day moving average price of $176.80. Analog Devices has a 1-year low of $133.48 and a 1-year high of $198.24.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Monday, June 5th will be given a dividend of $0.86 per share. The ex-dividend date is Friday, June 2nd. This represents a $3.44 dividend on an annualized basis and a yield of 1.97%. Analog Devices’s payout ratio is presently 48.73%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group raised their target price on shares of Analog Devices from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Wells Fargo & Company lowered their target price on shares of Analog Devices from $190.00 to $185.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Analog Devices from $200.00 to $195.00 in a research note on Thursday. Truist Financial lowered their price objective on shares of Analog Devices from $251.00 to $213.00 in a research note on Thursday. Finally, BMO Capital Markets lowered their price objective on shares of Analog Devices from $215.00 to $200.00 in a research note on Thursday. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Insider Buying and Selling at Analog Devices

In related news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the sale, the chief financial officer now directly owns 23,871 shares of the company’s stock, valued at approximately $4,464,115.71. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Analog Devices news, Director James Champy sold 1,495 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $185.44, for a total value of $277,232.80. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,181,438.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the completion of the sale, the chief financial officer now directly owns 23,871 shares in the company, valued at $4,464,115.71. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Analog Devices

Large investors have recently modified their holdings of the company. Fortis Capital Advisors LLC acquired a new position in shares of Analog Devices in the 1st quarter valued at $31,000. Quarry LP boosted its holdings in shares of Analog Devices by 267.4% in the 1st quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Analog Devices in the 1st quarter valued at $39,000. Worth Asset Management LLC acquired a new position in shares of Analog Devices in the 1st quarter valued at $33,000. Finally, Live Oak Investment Partners acquired a new position in shares of Analog Devices in the 4th quarter valued at $48,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Company Profile

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.