Analog Devices, Inc. (NASDAQ:ADI) to Post FY2024 Earnings of $6.11 Per Share, Zacks Research Forecasts

Analog Devices, Inc. (NASDAQ:ADI) – Equities research analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Analog Devices in a research report issued to clients and investors on Wednesday, June 12th. Zacks Research analyst S. Mete now anticipates that the semiconductor company will post earnings per share of $6.11 for the year, up from their prior forecast of $5.79. The consensus estimate for Analog Devices’ current full-year earnings is $6.24 per share. Zacks Research also issued estimates for Analog Devices’ FY2025 earnings at $7.31 EPS.

A number of other research firms have also recently weighed in on ADI. Truist Financial boosted their price objective on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Stifel Nicolaus boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Cantor Fitzgerald boosted their price objective on shares of Analog Devices from $205.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, May 23rd. Finally, KeyCorp upped their price target on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

Analog Devices Trading Down 1.2 %

ADI stock opened at $231.19 on Friday. The firm has a fifty day moving average price of $212.62 and a 200 day moving average price of $199.42. Analog Devices has a fifty-two week low of $154.99 and a fifty-two week high of $241.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a market cap of $114.72 billion, a PE ratio of 54.02, a price-to-earnings-growth ratio of 3.95 and a beta of 1.12.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the firm posted $2.83 earnings per share. Analog Devices’s revenue for the quarter was down 33.8% compared to the same quarter last year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.59%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Buying and Selling

In related news, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Michael Sondel sold 4,830 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the sale, the chief accounting officer now directly owns 10,547 shares in the company, valued at approximately $2,495,209.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,349 shares of company stock worth $11,118,356. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Analog Devices

A number of hedge funds and other institutional investors have recently made changes to their positions in ADI. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Analog Devices by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after buying an additional 21,522 shares in the last quarter. Point72 Italy S.r.l. purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $6,367,000. Grayhawk Investment Strategies Inc. purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $850,000. CTC Alternative Strategies Ltd. purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $1,152,000. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Analog Devices by 107.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after buying an additional 6,564 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.