Analog Devices ( NASDAQ:ADI ) updates third-quarter earnings forecast

Analog Devices ( NASDAQ:ADI – Get Free Report ) updated its third-quarter earnings outlook on Wednesday. The company reported earnings per share estimates of $1.40 to $1.60 for the period, compared to the consensus earnings per share estimate of $1.34. The company issued revenue guidance of $2.17 billion to $2.37 billion, compared to a consensus revenue estimate of $2.16 billion. Analog Devices also updated its Q3 2024 guidance to 1,400-1,600 EPS.

Price performance of analog devices

NASDAQ ADI shares opened at $234.56 on Friday. Analog Devices has a twelve month low of $154.99 and a twelve month high of $241.88. The stock’s 50-day moving average price is $199.92 and its 200-day moving average price is $193.03. The company has a market capitalization of $116.39 billion, a PE ratio of 54.80, a PEG ratio of 6.03 and a beta of 1.14. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.19.

Analog Devices ( NASDAQ:ADI – Get Free Report ) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s revenue for the quarter was $2.16 billion, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the company earned $2.83 EPS. The company’s revenues decreased by 33.8% compared to the same quarter last year. On average, equity analysts predict that Analog Devices will report 5.86 EPS for the current year.

Dividend announcement for analog devices

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Shareholders who hit record highs on Tuesday, June 4 will receive a dividend of $0.92. The ex-dividend date of this dividend is Tuesday, June 4. This represents a dividend of $3.68 on an annualized basis and a dividend yield of 1.57%. Analog Devices’ payout ratio is currently 85.98%.

Changes in analyst ratings

Many equity research analysts have published reports on ADI stock. Susquehanna raised their price target on shares of Analog Devices from $230.00 to $280.00 and gave the company a positive rating in a report on Thursday. Truist Financial raised their price target on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus raised their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company a buy rating in a report on Monday. On Tuesday, April 16, Evercore ISI began covering Analog Devices stock in a report. They set an outperform rating and a $254.00 price target on the stock. Finally, TD Cowen raised their price target on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday. Seven investment analysts have rated the company with a hold rating and eighteen analysts have issued a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of Buy on average and an average price target of $239.42.

Read our latest stock report on ADI

Confidential transactions in analog devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction amount of $1,970,600.00. Following the completion of the sale, the CEO now directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The transaction was disclosed in a document filed with the SEC, which is available on the SEC’s website. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction amount of $1,970,600.00. Following the completion of the sale, the CEO now directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The transaction was disclosed in a document filed with the SEC, which is available on the SEC’s website. Additionally, Vice President Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction amount of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock valued at $1,134,982.20. The announcement of this sale can be found here. Over the last ninety days, insiders have sold 24,707 shares of company stock worth $4,874,613. Company insiders own 0.31% of the company’s shares.

About analog devices

(Get the free report)

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

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