Brokerages forecast that Analog Devices, Inc. (NASDAQ:ADI) will post sales of $1.57 billion for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Analog Devices’ earnings, with the lowest sales estimate coming in at $1.57 billion and the highest estimate coming in at $1.59 billion. Analog Devices reported sales of $1.54 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.9%. The firm is scheduled to report its next earnings results on Tuesday, November 20th.
According to Zacks, analysts expect that Analog Devices will report full year sales of $6.18 billion for the current financial year, with estimates ranging from $6.17 billion to $6.19 billion. For the next fiscal year, analysts forecast that the company will report sales of $6.40 billion per share, with estimates ranging from $6.33 billion to $6.52 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Analog Devices.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.07. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.51 billion. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 EPS.
In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $95.04, for a total value of $950,400.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Margaret K. Seif sold 2,700 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $97.19, for a total transaction of $262,413.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,655 shares of company stock worth $10,425,833. Insiders own 0.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Nvwm LLC grew its position in shares of Analog Devices by 9.2% in the 1st quarter. Nvwm LLC now owns 6,362 shares of the semiconductor company’s stock worth $565,000 after buying an additional 537 shares during the period. Naples Global Advisors LLC grew its position in Analog Devices by 1.6% during the 2nd quarter. Naples Global Advisors LLC now owns 33,888 shares of the semiconductor company’s stock valued at $3,251,000 after purchasing an additional 548 shares during the last quarter. Peoples Financial Services CORP. grew its position in Analog Devices by 4.9% during the 2nd quarter. Peoples Financial Services CORP. now owns 11,798 shares of the semiconductor company’s stock valued at $1,132,000 after purchasing an additional 554 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in Analog Devices by 1.8% during the 1st quarter. Segall Bryant & Hamill LLC now owns 31,369 shares of the semiconductor company’s stock valued at $2,859,000 after purchasing an additional 559 shares during the last quarter. Finally, BerganKDV Wealth Management LLC grew its position in Analog Devices by 6.0% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 10,467 shares of the semiconductor company’s stock valued at $1,004,000 after purchasing an additional 597 shares during the last quarter. 88.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ADI traded up $0.44 during mid-day trading on Wednesday, reaching $95.00. The company’s stock had a trading volume of 2,558,700 shares, compared to its average volume of 2,697,512. The firm has a market cap of $35.15 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 1.30 and a beta of 1.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.16 and a current ratio of 1.58. Analog Devices has a 52 week low of $80.95 and a 52 week high of $103.59.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Friday, August 31st were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, August 30th. Analog Devices’s payout ratio is currently 40.68%.
Analog Devices declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
About Analog Devices
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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