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

Analog Devices (NASDAQ:ADI) issued its earnings results on Wednesday. The semiconductor company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08, Briefing.com reports. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the firm earned $2.49 earnings per share. Analog Devices’s revenue for the quarter was down 24.8% on a year-over-year basis. Analog Devices updated its Q4 2024 guidance to 1.530-1.730 EPS and its Q4 guidance to $1.53-$1.73 EPS.

Analog Devices Stock Performance

Shares of ADI opened at $228.39 on Friday. The stock’s 50-day simple moving average is $226.33 and its 200 day simple moving average is $211.31. The stock has a market capitalization of $113.33 billion, a price-to-earnings ratio of 53.36, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. Analog Devices has a 52-week low of $154.99 and a 52-week high of $244.14.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.92 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.61%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Insider Buying and Selling

In related news, Director James Champy sold 4,200 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total transaction of $980,910.00. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,487,947.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Analog Devices news, Director James Champy sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total value of $980,910.00. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,487,947.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,812 shares of company stock valued at $9,648,861. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ADI. Stifel Nicolaus upped their target price on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday. Susquehanna increased their price target on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research report on Thursday, May 23rd. Truist Financial lowered their price target on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Robert W. Baird increased their price target on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $245.64.

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.