Analog Devices (NASDAQ:ADI) Releases Q3 2022 Earnings Guidance

Analog Devices (NASDAQ:ADIGet Rating) updated its third quarter 2022 earnings guidance on Wednesday. The company provided EPS guidance of $2.32-$2.52 for the period, compared to the consensus EPS estimate of $2.16. The company issued revenue guidance of $2.95 billion-$3.15 billion, compared to the consensus revenue estimate of $2.89 billion.

ADI stock opened at $168.40 on Wednesday. Analog Devices has a 52 week low of $143.81 and a 52 week high of $191.95. The business has a 50-day simple moving average of $160.24 and a 200 day simple moving average of $165.59. The company has a quick ratio of 1.53, a current ratio of 1.99 and a debt-to-equity ratio of 0.17. The company has a market cap of $87.54 billion, a PE ratio of 47.71, a price-to-earnings-growth ratio of 1.48 and a beta of 1.07.

Analog Devices (NASDAQ:ADIGet Rating) last posted its quarterly earnings results on Wednesday, May 18th. The semiconductor company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.29. Analog Devices had a net margin of 16.84% and a return on equity of 12.11%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the business posted $1.54 EPS. The firm’s revenue for the quarter was up 78.9% on a year-over-year basis. On average, analysts anticipate that Analog Devices will post 9.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Tuesday, May 31st will be paid a $0.76 dividend. The ex-dividend date is Friday, May 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.81%. Analog Devices’s payout ratio is currently 86.12%.

A number of brokerages have issued reports on ADI. StockNews.com started coverage on Analog Devices in a report on Thursday, March 31st. They issued a hold rating for the company. Sanford C. Bernstein upped their price objective on Analog Devices to $200.00 and gave the company an outperform rating in a research note on Thursday, May 19th. UBS Group cut their target price on shares of Analog Devices to $210.00 and set a hold rating on the stock in a research report on Thursday, May 19th. Truist Financial upped their price target on shares of Analog Devices from $194.00 to $203.00 and gave the company a buy rating in a research report on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Analog Devices from $200.00 to $185.00 and set a hold rating on the stock in a report on Thursday, February 17th. Five equities research 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, Analog Devices presently has a consensus rating of Buy and a consensus target price of $199.52.

In related news, Director Tunc Doluca sold 4,700 shares of Analog Devices stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $166.50, for a total value of $782,550.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 3,901 shares of the stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $163.14, for a total value of $636,409.14. Following the transaction, the chief financial officer now directly owns 16,108 shares of the company’s stock, valued at $2,627,859.12. The disclosure for this sale can be found here. In the last three months, insiders sold 13,201 shares of company stock worth $2,200,959. Insiders own 0.47% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital International Investors increased its holdings in shares of Analog Devices by 17.5% in the first quarter. Capital International Investors now owns 2,863,634 shares of the semiconductor company’s stock worth $473,015,000 after purchasing an additional 426,281 shares during the period. Eaton Vance Management grew its position in Analog Devices by 21.4% during the first quarter. Eaton Vance Management now owns 1,237,441 shares of the semiconductor company’s stock worth $204,401,000 after buying an additional 218,232 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Analog Devices in the 1st quarter worth about $32,941,000. Bridgewater Associates LP purchased a new stake in shares of Analog Devices in the 1st quarter valued at about $21,301,000. Finally, Stonebridge Capital Advisors LLC boosted its position in shares of Analog Devices by 56,936.1% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 47,340 shares of the semiconductor company’s stock valued at $7,820,000 after acquiring an additional 47,257 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Company Profile (Get Rating)

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.

See Also

Earnings History and Estimates for Analog Devices (NASDAQ:ADI)

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