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

Analog Devices (NASDAQ:ADI) announced its quarterly earnings results on Wednesday. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08, Briefing.com reports. The company had revenue of $2.31 billion for 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 firm’s revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $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 2.9 %

Analog Devices stock opened at $228.39 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. 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. The firm has a 50 day moving average price of $226.33 and a 200-day moving average price of $211.31. Analog Devices has a twelve month low of $154.99 and a twelve month high of $244.14.

Analog Devices Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have commented on ADI shares. Citigroup increased their target price on Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Stifel Nicolaus raised their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a report on Monday, May 20th. Oppenheimer reissued an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a report on Thursday. Barclays raised their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, Robert W. Baird increased their price objective on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $245.64.

Insider Activity at Analog Devices

In related news, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,812 shares of company stock worth $9,648,861. 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.