Analog Devices (NASDAQ:ADI) Releases Earnings Results, Beats Estimates By $0.03 EPS

Analog Devices (NASDAQ:ADI) announced its quarterly earnings data on Monday. 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. Analog Devices had a return on equity of 18.86% and a net margin of 26.15%. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Analog Devices’s revenue was up 53.3% compared to the same quarter last year.

NASDAQ ADI opened at $182.47 on Thursday. The stock has a market capitalization of $67.19 billion, a P/E ratio of 39.93, a P/E/G ratio of 2.70 and a beta of 1.16. Analog Devices has a 52-week low of $134.96 and a 52-week high of $191.95. The firm has a 50-day moving average price of $175.94 and a 200 day moving average price of $168.66. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 14th. Stockholders of record on Friday, December 3rd will be issued a $0.69 dividend. The ex-dividend date of this dividend is Thursday, December 2nd. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.51%. Analog Devices’s payout ratio is 60.39%.

In other Analog Devices news, Director Tunc Doluca sold 1,000 shares of the stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $190.00, for a total value of $190,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Friday, October 1st. The shares were 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 31,100 shares of company stock valued at $5,382,960 over the last three months. 0.91% of the stock is currently owned by corporate insiders.

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) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,670 shares of the semiconductor company’s stock, valued at approximately $247,000. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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

ADI has been the subject of a number of analyst reports. Piper Sandler upped their target price on Analog Devices from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday. 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 report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on Analog Devices from $175.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday. Raymond James upped their target price on Analog Devices from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Morgan Stanley upped their target price on Analog Devices from $179.00 to $194.00 and gave the company an “equal weight” rating in a research report on Wednesday. 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $193.41.

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.

Read More: Fundamental Analysis

Earnings History for Analog Devices (NASDAQ:ADI)

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