Analog Devices, Inc. is expected to it will earn $6.11 per share in 2024 (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI – Free Report) – Zacks Research increased its 2024 earnings per share estimates for shares of Analog Devices in a report released on Wednesday, June 12. Zacks Research analyst S. Mete now expects the semiconductor company to earn $6.11 per share for the year, up from a prior forecast of $5.79. The consensus estimate for Analog Devices’ current full-year earnings is $6.22 per share. Zacks Research also released Analog Devices’ 2025 earnings estimate of $7.31 EPS.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported EPS of $1.40 for the quarter, which was $0.14 ahead of analysts’ consensus estimates of $1.26. The company’s revenue for the quarter was $2.16 billion, compared to analyst estimates of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.83 per share.

Other analysts have also recently published research reports on the company. Barclays increased their price target on Analog from $185.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, May 20th. Morgan Stanley raised their target price on shares of Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Oppenheimer increased their price target on Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Sanford C. Bernstein increased their price target on shares of Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Finally, Jefferies Financial Group covered shares of Analog Devices in a report on Monday, May 13th. They issued a “buy” rating and a $250.00 price target for the company. Seven analysts have rated the company with a hold rating and eighteen analysts have rated the company with a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.23.

Check out our latest research report on analog devices

Analog equipment inventory performance

NASDAQ:ADI opened at $234.03 on Friday. The company has a market capitalization of $116.13 billion, a price-to-earnings ratio of 54.68, a PEG ratio of 3.99 and a beta of 1.12. Analog Devices has a 1-year low of $154.99 and a 1-year high of $241.88. The company has a 50-day moving average of $211.89 and a 200-day moving average of $198.98. The company has a debt to equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13.

Hedge funds weigh on analog devices

Several institutional investors have recently bought and sold shares of ADI. In the fourth quarter, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Analog Devices shares by 4.3%. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after acquiring an additional 21,522 shares in the last quarter. Point72 Italy Srl acquired a new stake in Analog Devices during the 4th quarter worth $6,367,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Analog Devices during the 4th quarter worth $1,152,000. Sequoia Financial Advisors LLC increased its holdings in Analog Devices by 107.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock worth $2,515,000 after purchasing an additional 6,564 shares during the period. Finally, Capital International Investors increased its position in the Analog Devices segment by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after acquiring an additional 246,799 shares in the last quarter. Institutional investors hold 86.81% of the company’s shares.

Confidential activity

In other news, on Thursday, April 4, VP Vivek Jain sold 3,479 shares of the company’s stock. The shares were sold at an average price of $197.56, for a total transaction amount of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the Securities and Exchange Commission, available at this link. In other news, VP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a document filed with the Securities and Exchange Commission, which is available on the SEC’s website. Additionally, Director James Champy sold 1,228 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction amount of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock valued at $1,259,164.44. The announcement of this sale can be found here. Over the last three months, insiders sold 33,737 shares of company stock worth $6,998,205. Insiders own 0.31% of the company’s shares.

Dividend announcement for analog devices

Recently, the company also declared 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’ dividend payout ratio is currently 85.98%.

Analog devices company profile

(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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