Analog Devices (NASDAQ:ADI) Issues Earnings Results

Analog Devices (NASDAQ:ADIGet Rating) issued its quarterly earnings data on Tuesday. The semiconductor company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.15, RTT News reports. Analog Devices had a net margin of 17.00% and a return on equity of 11.92%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The firm’s revenue was up 38.8% compared to the same quarter last year. Analog Devices updated its Q1 guidance to $2.50-2.70 EPS and its Q1 2023 guidance to $2.50-$2.70 EPS.

Analog Devices Price Performance

NASDAQ ADI opened at $169.20 on Thursday. Analog Devices has a 52 week low of $133.48 and a 52 week high of $188.20. The company has a current ratio of 1.92, a quick ratio of 1.43 and a debt-to-equity ratio of 0.17. The stock has a market cap of $87.03 billion, a price-to-earnings ratio of 46.74, a price-to-earnings-growth ratio of 1.38 and a beta of 1.11. The company has a 50-day moving average price of $147.66 and a two-hundred day moving average price of $154.99.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, December 5th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, December 2nd. Analog Devices’s dividend payout ratio (DPR) is 83.98%.

Analyst Ratings Changes

A number of brokerages have commented on ADI. Sanford C. Bernstein boosted their price objective on shares of Analog Devices from $190.00 to $200.00 in a report on Wednesday. Morgan Stanley upped their target price on shares of Analog Devices from $173.00 to $177.00 and gave the company an “equal weight” rating in a research note on Wednesday. Credit Suisse Group restated a “neutral” rating and issued a $185.00 target price on shares of Analog Devices in a research note on Wednesday, November 16th. StockNews.com began coverage on shares of Analog Devices in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Barclays upped their target price on shares of Analog Devices from $140.00 to $145.00 and gave the company an “equal weight” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.65.

Insiders Place Their Bets

In other Analog Devices news, Director Tunc Doluca sold 1,700 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $160.00, for a total value of $272,000.00. Following the completion of the transaction, the director now owns 68,657 shares in the company, valued at approximately $10,985,120. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ADI. KB Financial Partners LLC lifted its stake in shares of Analog Devices by 10.7% in the 1st quarter. KB Financial Partners LLC now owns 2,665 shares of the semiconductor company’s stock worth $440,000 after acquiring an additional 258 shares during the period. First Western Trust Bank acquired a new stake in shares of Analog Devices in the 1st quarter worth approximately $400,000. West Family Investments Inc. lifted its stake in shares of Analog Devices by 30.6% in the 1st quarter. West Family Investments Inc. now owns 2,339 shares of the semiconductor company’s stock worth $386,000 after acquiring an additional 548 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of Analog Devices by 11.9% in the 1st quarter. Brown Brothers Harriman & Co. now owns 2,291 shares of the semiconductor company’s stock worth $378,000 after acquiring an additional 243 shares during the period. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of Analog Devices in the 1st quarter worth approximately $326,000. Institutional investors own 85.22% of the company’s stock.

About Analog Devices

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

Further Reading

Earnings History for Analog Devices (NASDAQ:ADI)

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