Analog Devices (NASDAQ:ADI) Announces Earnings Results

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

Shares of NASDAQ:ADI traded up $0.02 during trading on Thursday, reaching $182.47. 2,914,821 shares of the company traded hands, compared to its average volume of 3,522,003. The firm has a fifty day simple moving average of $175.94 and a 200 day simple moving average of $168.66. The firm 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. Analog Devices has a 1-year low of $134.96 and a 1-year high of $191.95. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.

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

Analog Devices announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 25th that authorizes the company to buyback $8.50 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 13.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

ADI has been the topic of several analyst reports. UBS Group initiated coverage on shares of Analog Devices in a research note on Wednesday, October 13th. They issued a “buy” rating and a $210.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Analog Devices from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Tuesday. Oppenheimer raised their price target on shares of Analog Devices from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, November 19th. Jefferies Financial Group raised their price target on shares of Analog Devices from $188.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. Finally, Stifel Nicolaus raised their price objective on shares of Analog Devices from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $193.41.

In other news, Director Tunc Doluca sold 7,000 shares of the business’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $173.18, for a total transaction of $1,212,260.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $168.09, for a total transaction of $1,680,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,100 shares of company stock valued at $5,382,960 in the last three months. Company insiders own 0.91% of the company’s stock.

An institutional investor recently bought a new position in Analog Devices stock. Camden National Bank bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,670 shares of the semiconductor company’s stock, valued at approximately $247,000. Institutional investors own 99.41% of the company’s stock.

Analog Devices Company Profile

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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