Analog Devices (NASDAQ:ADI) Issues Earnings Results

Analog Devices (NASDAQ:ADI) announced its earnings results on Wednesday. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08, Briefing.com reports. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.49 EPS. 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 Up 2.7 %

ADI stock traded up $6.01 during trading on Friday, hitting $227.92. 1,080,386 shares of the company’s stock traded hands, compared to its average volume of 3,365,543. The firm has a market capitalization of $113.10 billion, a P/E ratio of 51.85, a PEG ratio of 3.69 and a beta of 1.08. The business has a fifty day simple moving average of $226.38 and a two-hundred day simple moving average of $211.06. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. Analog Devices has a 1 year low of $154.99 and a 1 year high of $244.14.

Analog Devices Dividend Announcement

The firm 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. This represents a $3.68 annualized dividend and a yield of 1.61%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,570,541.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James Champy sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total transaction of $980,910.00. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,487,947.05. The disclosure for this sale can be found here. Insiders have sold a total of 41,812 shares of company stock valued at $9,648,861 over the last ninety days. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

ADI has been the subject of several analyst reports. UBS Group upped their price objective on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Jefferies Financial Group began coverage on shares of Analog Devices in a report on Monday, May 13th. They set a “buy” rating and a $250.00 price objective for the company. KeyCorp increased their price objective on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Morgan Stanley increased their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, July 16th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.