Analog Devices, Inc. (NASDAQ:ADI) – SunTrust Banks upped their Q4 2020 EPS estimates for Analog Devices in a research note issued on Wednesday, November 27th. SunTrust Banks analyst W. Stein now forecasts that the semiconductor company will post earnings per share of $1.44 for the quarter, up from their previous estimate of $1.40. SunTrust Banks currently has a “Buy” rating and a $133.00 price target on the stock. SunTrust Banks also issued estimates for Analog Devices’ Q1 2021 earnings at $1.40 EPS.
Other analysts also recently issued reports about the company. Morgan Stanley lifted their target price on Analog Devices from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. ValuEngine downgraded Analog Devices from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Loop Capital lifted their target price on Analog Devices from $125.00 to $130.00 and gave the stock a “positive” rating in a research report on Friday. They noted that the move was a valuation call. Daiwa Capital Markets assumed coverage on Analog Devices in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $121.00 target price for the company. Finally, BidaskClub upgraded Analog Devices from a “sell” rating to a “hold” rating in a research report on Saturday, August 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Analog Devices has a consensus rating of “Buy” and a consensus target price of $118.00.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.03). The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Analog Devices had a return on equity of 16.39% and a net margin of 22.75%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 earnings per share.
Several hedge funds have recently added to or reduced their stakes in the stock. Man Group plc raised its holdings in Analog Devices by 220.3% in the third quarter. Man Group plc now owns 54,007 shares of the semiconductor company’s stock worth $6,034,000 after purchasing an additional 37,143 shares in the last quarter. Raine Capital LLC raised its holdings in Analog Devices by 152.2% in the third quarter. Raine Capital LLC now owns 58,000 shares of the semiconductor company’s stock worth $6,480,000 after purchasing an additional 35,000 shares in the last quarter. Squarepoint Ops LLC bought a new position in Analog Devices in the third quarter worth about $6,804,000. National Pension Service raised its holdings in Analog Devices by 5.0% in the third quarter. National Pension Service now owns 463,682 shares of the semiconductor company’s stock worth $51,807,000 after purchasing an additional 21,873 shares in the last quarter. Finally, KCM Investment Advisors LLC bought a new position in Analog Devices in the third quarter worth about $215,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.
In related news, SVP Joseph Hassett sold 10,544 shares of Analog Devices stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $116.72, for a total value of $1,230,695.68. Following the completion of the sale, the senior vice president now directly owns 34,360 shares in the company, valued at $4,010,499.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Martin Cotter sold 463 shares of Analog Devices stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $115.76, for a total value of $53,596.88. Following the completion of the sale, the senior vice president now owns 173 shares of the company’s stock, valued at $20,026.48. The disclosure for this sale can be found here. Insiders sold 41,899 shares of company stock valued at $4,696,829 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, December 6th will be issued a $0.54 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.16 annualized dividend and a dividend yield of 1.94%. Analog Devices’s payout ratio is currently 41.94%.
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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