Analog Devices (NASDAQ:ADI) Updates Q1 Earnings Guidance

Analog Devices (NASDAQ:ADI) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.60-1.80 for the period, compared to the consensus earnings per share estimate of $1.91. The company issued revenue guidance of $2.4-2.6 billion, compared to the consensus revenue estimate of $2.69 billion.

Analog Devices Trading Up 0.4 %

Analog Devices stock opened at $183.82 on Tuesday. The stock has a 50-day moving average price of $171.74 and a 200 day moving average price of $180.78. The company has a market capitalization of $91.60 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 2.25 and a beta of 1.16. Analog Devices has a 52 week low of $154.99 and a 52 week high of $200.10. The company has a quick ratio of 1.10, a current ratio of 1.71 and a debt-to-equity ratio of 0.18.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 21st. The semiconductor company reported $2.01 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.01). The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Analog Devices had a net margin of 29.23% and a return on equity of 15.20%. The firm’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.73 earnings per share. Sell-side analysts anticipate that Analog Devices will post 10.08 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, September 5th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Friday, September 1st. Analog Devices’s dividend payout ratio (DPR) is 46.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ADI shares. UBS Group decreased their price target on shares of Analog Devices from $210.00 to $200.00 and set a buy rating for the company in a research report on Monday, November 13th. StockNews.com started coverage on shares of Analog Devices in a research note on Thursday, October 5th. They set a hold rating on the stock. Morgan Stanley raised Analog Devices from an equal weight rating to an overweight rating and increased their price objective for the company from $176.00 to $225.00 in a report on Friday. Piper Sandler downgraded Analog Devices from an overweight rating to a neutral rating and set a $190.00 price objective for the company. in a research note on Thursday, August 24th. Finally, Evercore ISI raised their target price on shares of Analog Devices from $200.00 to $210.00 in a research note on Thursday, October 5th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $205.46.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $182.60, for a total transaction of $1,826,000.00. Following the transaction, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at $12,912,193.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Analog Devices

Several institutional investors and hedge funds have recently made changes to their positions in ADI. Norges Bank purchased a new stake in shares of Analog Devices in the fourth quarter worth approximately $1,040,194,000. Moneta Group Investment Advisors LLC raised its position in Analog Devices by 101,479.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock valued at $674,482,000 after buying an additional 4,107,895 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Analog Devices by 236.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock valued at $450,446,000 after acquiring an additional 1,625,377 shares in the last quarter. Barclays PLC boosted its holdings in Analog Devices by 111.6% during the 2nd quarter. Barclays PLC now owns 1,596,945 shares of the semiconductor company’s stock worth $311,100,000 after acquiring an additional 842,406 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Analog Devices by 16.1% in the 4th quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock worth $982,344,000 after acquiring an additional 830,281 shares in the last quarter. Institutional investors own 85.55% of the company’s stock.

Analog Devices Company Profile

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 that include performance, integration, and software design simulation tools for accurate power supply designs.