Analog Devices, Inc. (ADI) Sets New 12-Month High Following Better-Than-Expected Earnings

Shares of Analog Devices, Inc. (NASDAQ:ADI) hit a new 52-week high on Monday following a stronger than expected earnings report. The company traded as high as $93.69 and last traded at $90.42, with a volume of 2342900 shares trading hands. The stock had previously closed at $90.48.

The semiconductor company reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.09. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The company’s quarterly revenue was up 53.4% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.00%. Analog Devices’s dividend payout ratio (DPR) is currently 86.12%.

Several research firms recently commented on ADI. Royal Bank Of Canada restated a “buy” rating and issued a $92.00 price target on shares of Analog Devices in a research note on Friday, August 4th. BidaskClub downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. B. Riley reaffirmed a “buy” rating and set a $103.00 price objective on shares of Analog Devices in a research report on Thursday, August 17th. BMO Capital Markets reaffirmed an “outperform” rating and set a $100.00 price objective (up previously from $96.00) on shares of Analog Devices in a research report on Tuesday, August 29th. Finally, Nomura raised shares of Analog Devices from a “reduce” rating to a “neutral” rating and upped their price objective for the stock from $72.50 to $80.00 in a research report on Thursday, August 31st. Twelve investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Analog Devices has an average rating of “Buy” and an average price target of $93.81.

In related news, Director James Champy sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $90.00, for a total value of $1,125,000.00. Following the completion of the sale, the director now owns 21,910 shares in the company, valued at approximately $1,971,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gregory N. Henderson sold 6,396 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $84.34, for a total value of $539,438.64. Following the completion of the sale, the senior vice president now owns 10,327 shares of the company’s stock, valued at approximately $870,979.18. The disclosure for this sale can be found here. Insiders have sold a total of 132,994 shares of company stock valued at $11,370,618 in the last ninety days. Insiders own 1.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ADI. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Analog Devices during the second quarter valued at approximately $119,000. WFG Advisors LP grew its stake in Analog Devices by 26.4% in the second quarter. WFG Advisors LP now owns 1,579 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 330 shares during the period. Fieldpoint Private Securities LLC grew its stake in Analog Devices by 91.6% in the third quarter. Fieldpoint Private Securities LLC now owns 1,475 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 705 shares during the period. Clear Perspective Advisors LLC grew its stake in Analog Devices by 3,884.2% in the third quarter. Clear Perspective Advisors LLC now owns 1,514 shares of the semiconductor company’s stock worth $130,000 after purchasing an additional 1,476 shares during the period. Finally, NEXT Financial Group Inc grew its stake in Analog Devices by 64.4% in the third quarter. NEXT Financial Group Inc now owns 1,532 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

The stock has a market cap of $34,218.84, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.99 and a quick ratio of 1.52.

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About Analog Devices

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

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