Analog Devices, Inc. (NASDAQ:ADI – Get Rating) – Analysts at KeyCorp upped their Q3 2023 earnings per share (EPS) estimates for shares of Analog Devices in a research report issued to clients and investors on Wednesday, May 24th. KeyCorp analyst J. Vinh now expects that the semiconductor company will post earnings per share of $2.53 for the quarter, up from their previous forecast of $2.52. KeyCorp currently has a “Overweight” rating and a $220.00 price target on the stock. The consensus estimate for Analog Devices’ current full-year earnings is $10.65 per share. KeyCorp also issued estimates for Analog Devices’ Q4 2024 earnings at $2.89 EPS.
Analog Devices (NASDAQ:ADI – Get Rating) last announced its quarterly earnings results on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.08. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the prior year, the company posted $2.40 EPS. The company’s revenue was up 9.8% on a year-over-year basis.
Analog Devices Stock Performance
NASDAQ:ADI opened at $172.39 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.50 and a current ratio of 2.12. Analog Devices has a fifty-two week low of $133.48 and a fifty-two week high of $198.24. The company has a 50 day simple moving average of $186.11 and a two-hundred day simple moving average of $176.80. The company has a market capitalization of $87.20 billion, a PE ratio of 26.00, a P/E/G ratio of 1.44 and a beta of 1.15.
Analog Devices Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Monday, June 5th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, June 2nd. Analog Devices’s dividend payout ratio (DPR) is 51.89%.
Insiders Place Their Bets
In related news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $187.01, for a total value of $4,909,012.50. Following the sale, the chief financial officer now directly owns 23,871 shares in the company, valued at approximately $4,464,115.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director James Champy sold 1,495 shares of Analog Devices stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total value of $277,232.80. Following the completion of the transaction, the director now directly owns 6,371 shares in the company, valued at $1,181,438.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the business’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $187.01, for a total value of $4,909,012.50. Following the sale, the chief financial officer now owns 23,871 shares in the company, valued at $4,464,115.71. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Analog Devices by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 45,878,473 shares of the semiconductor company’s stock worth $6,392,707,000 after acquiring an additional 138,980 shares during the period. BlackRock Inc. increased its holdings in shares of Analog Devices by 5.2% in the third quarter. BlackRock Inc. now owns 42,266,420 shares of the semiconductor company’s stock worth $5,889,403,000 after purchasing an additional 2,076,636 shares during the period. State Street Corp raised its position in shares of Analog Devices by 1.2% in the first quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock worth $4,024,078,000 after buying an additional 238,249 shares in the last quarter. FMR LLC raised its position in shares of Analog Devices by 72.8% in the first quarter. FMR LLC now owns 13,650,137 shares of the semiconductor company’s stock worth $2,692,080,000 after buying an additional 5,748,969 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Analog Devices by 0.7% during the first quarter. Geode Capital Management LLC now owns 9,393,867 shares of the semiconductor company’s stock valued at $1,848,963,000 after buying an additional 67,674 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.
Analog Devices Company Profile
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.
- Get a free copy of the StockNews.com research report on Analog Devices (ADI)
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