Analog Devices (NASDAQ:ADI) Updates Q3 Earnings Guidance

Analog Devices (NASDAQ:ADI) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.40-$1.60 for the period, compared to the consensus earnings per share estimate of $1.34. The company issued revenue guidance of $2.17-$2.37 billion, compared to the consensus revenue estimate of $2.16 billion. Analog Devices also updated its Q3 2024 guidance to 1.400-1.600 EPS.

Analog Devices Trading Up 0.8 %

NASDAQ:ADI opened at $242.00 on Thursday. Analog Devices has a 12 month low of $154.99 and a 12 month high of $242.00. The firm has a fifty day simple moving average of $199.12 and a 200-day simple moving average of $192.74. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $120.01 billion, a P/E ratio of 42.96, a PEG ratio of 5.44 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the firm posted $2.83 earnings per share. The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. On average, equities research analysts anticipate that Analog Devices will post 5.85 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.92 per share. The ex-dividend date is Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.52%. Analog Devices’s payout ratio is currently 65.83%.

Analysts Set New Price Targets

ADI has been the subject of several research reports. The Goldman Sachs Group lifted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Cantor Fitzgerald raised their target price on shares of Analog Devices from $205.00 to $240.00 and gave the stock a neutral rating in a report on Wednesday, May 15th. Truist Financial raised their target price on shares of Analog Devices from $222.00 to $275.00 and gave the stock a buy rating in a report on Thursday. Sanford C. Bernstein raised their target price on shares of Analog Devices from $200.00 to $220.00 and gave the stock a market perform rating in a report on Thursday. Finally, Susquehanna raised their target price on shares of Analog Devices from $230.00 to $280.00 and gave the stock a positive rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices has a consensus rating of Moderate Buy and an average target price of $229.00.

Insider Activity

In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,874,613 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. 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 consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.