KeyCorp Weighs in on Analog Devices, Inc.’s Q1 2024 Earnings (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADIGet Rating) – Equities researchers at KeyCorp issued their Q1 2024 EPS estimates for Analog Devices in a research note issued to investors on Tuesday, November 22nd. KeyCorp analyst J. Vinh anticipates that the semiconductor company will post earnings of $2.73 per share for the quarter. The consensus estimate for Analog Devices’ current full-year earnings is $9.41 per share.

ADI has been the topic of several other research reports. Sanford C. Bernstein boosted their target price on shares of Analog Devices from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday. Raymond James reduced their target price on shares of Analog Devices from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, August 18th. Needham & Company LLC downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. 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. Finally, Citigroup boosted their target price on shares of Analog Devices from $192.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.95.

Analog Devices Stock Up 0.5 %

ADI opened at $169.20 on Thursday. Analog Devices has a fifty-two week low of $133.48 and a fifty-two week high of $188.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.02 and a quick ratio of 1.43. The firm’s fifty day moving average price is $148.04 and its two-hundred day moving average price is $155.09. The company has a market capitalization of $87.03 billion, a P/E ratio of 32.05, a P/E/G ratio of 1.46 and a beta of 1.11.

Analog Devices (NASDAQ:ADIGet Rating) last posted its quarterly earnings results on Tuesday, November 22nd. The semiconductor company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.15. Analog Devices had a net margin of 22.88% and a return on equity of 13.58%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. The business’s revenue was up 38.8% compared to the same quarter last year.

Institutional Trading of Analog Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its stake in shares of Analog Devices by 84.8% in the 2nd quarter. Vontobel Holding Ltd. now owns 25,836 shares of the semiconductor company’s stock valued at $3,804,000 after acquiring an additional 11,855 shares during the last quarter. Forum Financial Management LP increased its stake in shares of Analog Devices by 92.8% in the 1st quarter. Forum Financial Management LP now owns 5,910 shares of the semiconductor company’s stock valued at $976,000 after acquiring an additional 2,844 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Analog Devices by 30.7% in the 2nd quarter. Avantax Advisory Services Inc. now owns 5,598 shares of the semiconductor company’s stock valued at $818,000 after acquiring an additional 1,314 shares during the last quarter. Buckley Wealth Management LLC bought a new stake in shares of Analog Devices in the 1st quarter valued at about $211,000. Finally, Wetherby Asset Management Inc. increased its stake in shares of Analog Devices by 7.3% in the 1st quarter. Wetherby Asset Management Inc. now owns 12,056 shares of the semiconductor company’s stock valued at $1,991,000 after acquiring an additional 820 shares during the last quarter. 85.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Analog Devices news, Director Tunc Doluca sold 1,700 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $160.00, for a total transaction of $272,000.00. Following the completion of the sale, the director now directly owns 68,657 shares of the company’s stock, valued at approximately $10,985,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.91% of the company’s stock.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, December 5th will be issued a dividend of $0.76 per share. The ex-dividend date is Friday, December 2nd. This represents a $3.04 annualized dividend and a yield of 1.80%. Analog Devices’s dividend payout ratio is currently 57.58%.

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.

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

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