Brokerages Expect Analog Devices, Inc. (NASDAQ:ADI) Will Announce Quarterly Sales of $2.61 Billion

Brokerages expect that Analog Devices, Inc. (NASDAQ:ADI) will report sales of $2.61 billion for the current quarter, according to Zacks. Nine analysts have provided estimates for Analog Devices’ earnings, with the lowest sales estimate coming in at $2.60 billion and the highest estimate coming in at $2.64 billion. Analog Devices posted sales of $1.56 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 67.3%. The business is expected to report its next earnings report on Wednesday, February 16th.

According to Zacks, analysts expect that Analog Devices will report full-year sales of $10.69 billion for the current year, with estimates ranging from $10.52 billion to $10.85 billion. For the next financial year, analysts forecast that the business will post sales of $11.23 billion, with estimates ranging from $11.00 billion to $11.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Analog Devices.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 23rd. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. Analog Devices had a return on equity of 13.92% and a net margin of 19.00%. The firm’s quarterly revenue was up 53.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.44 earnings per share.

Several equities research analysts recently commented on the company. Needham & Company LLC increased their price objective on Analog Devices from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, November 24th. Oppenheimer lifted their target price on Analog Devices from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, November 19th. Piper Sandler raised their price target on Analog Devices from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, November 24th. Truist raised their price target on Analog Devices from $192.00 to $204.00 and gave the company a “buy” rating in a report on Wednesday, November 24th. Finally, Morgan Stanley raised their price target on Analog Devices from $179.00 to $194.00 and gave the company an “equal weight” rating in a report on Wednesday, November 24th. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $199.74.

Shares of NASDAQ ADI traded up $2.22 during trading on Friday, reaching $172.00. The company had a trading volume of 2,869,639 shares, compared to its average volume of 3,916,696. Analog Devices has a 12-month low of $142.25 and a 12-month high of $191.95. The stock has a market cap of $63.33 billion, a PE ratio of 46.61, a P/E/G ratio of 1.88 and a beta of 1.11. The business’s 50-day moving average is $178.62 and its 200 day moving average is $172.47. The company has a quick ratio of 1.51, a current ratio of 1.94 and a debt-to-equity ratio of 0.16.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 14th. Investors of record on Friday, December 3rd were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, December 2nd. This represents a $2.76 annualized dividend and a yield of 1.60%. Analog Devices’s dividend payout ratio (DPR) is 74.80%.

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $173.18, for a total value of $1,731,800.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Tunc Doluca sold 2,100 shares of the company’s stock in a transaction dated Thursday, November 4th. The stock was sold at an average price of $180.00, for a total value of $378,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,636 shares of company stock worth $5,259,112. 0.91% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Knowledge Leaders Capital LLC raised its holdings in Analog Devices by 1.2% in the 3rd quarter. Knowledge Leaders Capital LLC now owns 4,704 shares of the semiconductor company’s stock worth $788,000 after purchasing an additional 56 shares during the period. Claro Advisors LLC raised its holdings in shares of Analog Devices by 4.0% during the second quarter. Claro Advisors LLC now owns 1,603 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 61 shares during the last quarter. Integrated Investment Consultants LLC grew its position in Analog Devices by 2.6% in the third quarter. Integrated Investment Consultants LLC now owns 2,433 shares of the semiconductor company’s stock worth $407,000 after acquiring an additional 61 shares during the period. Midwest Professional Planners LTD. grew its position in Analog Devices by 1.4% in the third quarter. Midwest Professional Planners LTD. now owns 4,502 shares of the semiconductor company’s stock worth $754,000 after acquiring an additional 62 shares during the period. Finally, Retirement Group LLC grew its position in Analog Devices by 5.5% in the third quarter. Retirement Group LLC now owns 1,209 shares of the semiconductor company’s stock worth $203,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 99.40% of the company’s stock.

About Analog Devices

Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.

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

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