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

Analog Devices (NASDAQ:ADI) announced its earnings results on Tuesday. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $2.31 billion. During the same period in the prior year, the company posted $1.44 EPS. The firm’s quarterly revenue was up 53.3% compared to the same quarter last year. Analog Devices updated its Q1 2022 guidance to $1.680-$1.880 EPS and its Q1 guidance to $1.68-$1.88 EPS.

ADI stock traded up $0.02 during trading on Thursday, hitting $182.47. The company had a trading volume of 2,914,821 shares, compared to its average volume of 3,522,003. The firm has a market cap of $67.19 billion, a PE 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 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 company 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. This represents a $2.76 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 2nd. Analog Devices’s payout ratio is currently 60.39%.

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

In other news, Director Bruce R. Evans purchased 8,001 shares of the firm’s stock in a transaction dated Wednesday, October 6th. The shares were acquired at an average price of $164.98 per share, with a total value of $1,320,004.98. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 1st. The shares were sold at an average price of $168.09, for a total value of $1,680,900.00. The disclosure for this sale can be found here. Insiders sold a total of 31,100 shares of company stock worth $5,382,960 in the last 90 days. 0.91% of the stock is currently owned by insiders.

A hedge fund recently bought a new stake in Analog Devices stock. Camden National Bank acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 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.

Several analysts recently commented on ADI shares. Piper Sandler raised their target price on Analog Devices from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group started coverage on Analog Devices in a report on Wednesday, October 13th. They set a “buy” rating and a $210.00 target price on the stock. Stifel Nicolaus raised their target price on Analog Devices from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, August 19th. JPMorgan Chase & Co. raised Analog Devices from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $119.00 to $215.00 in a report on Monday, September 20th. Finally, BMO Capital Markets raised their target price on Analog Devices from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $193.41.

About Analog Devices

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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