Analog Devices (NASDAQ:ADI) Issues Quarterly Earnings Results

Analog Devices (NASDAQ:ADI) announced its quarterly earnings results on Tuesday. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.03, MarketWatch Earnings reports. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. Analog Devices had a return on equity of 18.86% and a net margin of 26.15%. The company’s quarterly revenue was up 53.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 earnings per share. Analog Devices updated its Q1 2022 guidance to $1.680-$1.880 EPS and its Q1 guidance to $1.68-$1.88 EPS.

NASDAQ:ADI traded up $0.02 during trading hours on Thursday, reaching $182.47. The stock had a trading volume of 2,914,821 shares, compared to its average volume of 3,522,003. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.11. The stock has a 50 day simple moving average of $176.12 and a 200 day simple moving average of $168.75. Analog Devices has a 12-month low of $134.96 and a 12-month high of $191.95. The stock has a market cap of $67.19 billion, a P/E ratio of 39.93, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 14th. Shareholders of record on Friday, December 3rd will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Thursday, December 2nd. Analog Devices’s dividend payout ratio is currently 60.39%.

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, November 1st. The stock was sold at an average price of $173.18, for a total transaction of $1,731,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tunc Doluca sold 1,000 shares of Analog Devices stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $190.00, for a total value of $190,000.00. The disclosure for this sale can be found here. Insiders sold 31,100 shares of company stock valued at $5,382,960 over the last three months. Company insiders own 0.91% of the company’s stock.

A hedge fund recently bought a new stake in Analog Devices stock. Camden National Bank purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,670 shares of the semiconductor company’s stock, valued at approximately $247,000. 99.41% of the stock is owned by institutional investors and hedge funds.

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday. Piper Sandler increased their price objective on Analog Devices from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Securities increased their price objective on Analog Devices from $192.00 to $204.00 and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird reissued a “buy” rating on shares of Analog Devices in a research note on Thursday. Finally, Zacks Investment Research downgraded Analog Devices from a “hold” rating to a “sell” rating and set a $194.00 price objective for the company. in a research note on Tuesday, November 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices presently has an average rating of “Buy” and an average target price of $193.41.

Analog Devices announced that its board has initiated a share buyback program on Wednesday, August 25th that permits the company to repurchase $8.50 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 13.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About Analog Devices

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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Earnings History for Analog Devices (NASDAQ:ADI)

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