Analog Devices (NASDAQ:ADI) Posts Earnings Results, Beats Expectations By $0.08 EPS

Analog Devices (NASDAQ:ADI) announced its earnings results on Wednesday. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08, Briefing.com reports. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm’s revenue was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.49 earnings per share. 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 2.9 %

ADI opened at $228.39 on Friday. The stock has a fifty day moving average of $226.33 and a 200-day moving average of $211.31. The company has a market capitalization of $113.33 billion, a P/E ratio of 53.36, a P/E/G ratio of 3.69 and a beta of 1.08. Analog Devices has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Barclays boosted their price target on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Susquehanna upped their price objective on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday, May 23rd. Stifel Nicolaus raised their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, May 20th. Finally, Citigroup upped their price target on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $245.64.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 owns 51,039 shares in the company, valued at approximately $11,640,975.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James Champy sold 4,200 shares of the stock in a transaction on 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 directly 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 the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,812 shares of company stock worth $9,648,861. Corporate insiders own 0.31% of the company’s stock.

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.