Analog Devices, Inc. will achieve earnings of $6.25 per share after 2024, Cantor Fitzgerald (NASDAQ:ADI) forecasts

Analog Devices, Inc. (NASDAQ:ADI – Free Report) – Investment analysts at Cantor Fitzgerald increased their 2024 EPS estimates for Analog Devices in a research note issued to investors on Thursday, May 23. Cantor Fitzgerald analyst C. Muse now forecasts the semiconductor company will earn $6.25 per share for the year, up from a prior estimate of $5.78. Cantor Fitzgerald has a Neutral rating and a $240.00 price target for the company’s stock. The consensus estimate for Analog Devices’ current full-year earnings is $6.16 per share.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported EPS of $1.40 for the quarter, $0.14 above 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 return on equity of 10.74% and a net margin of 20.45%. The company’s revenue for the quarter was down 33.8% year-over-year. During the same quarter last year, the company saw an EPS of $2.83.

ADI has been the subject of several other research reports. KeyCorp raised 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. Morgan Stanley raised their price target on Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday. On Tuesday, April 16, Evercore ISI began covering analog devices in a report. They issued an outperform rating and a $254.00 price target for the stock. Truist Financial raised their price target on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday. Seven equity analysts rated the company’s shares with a hold rating, and eighteen issued a buy rating. Based on data from MarketBeat.com, the company’s stock has an average rating of “Moderate Buy” and an average price target of $243.23.

Read our latest analysis for analog devices

Analog equipment inventory performance

Analog Devices shares fell $2.05 on Monday, hitting $232.51. The share trading volume was 4,544,300 shares, while the average trading volume was 3,382,608. 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 company’s 50-day moving average price is $200.67 and its two-hundred-day moving average price is $193.84. The market value of the company’s shares is $115.38 billion, the P/E ratio is 54.32, the price to earnings growth ratio is 3.97 and the beta is 1.14. Analog Devices has a fifty-two week low of $154.99 and a fifty-two week high of $241.88.

Institutional investors are considering analog devices

A number of hedge funds have recently increased or decreased their holdings in ADI. In the fourth quarter, Pinnacle Bancorp Inc. increased its position in Analog Devices shares by 101.6%. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares in the last quarter. USA Financial Formulas increased its position in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares in the last quarter. Cetera Trust Company NA acquired a new position in Analog Devices during the fourth quarter worth approximately $29,000. Private Wealth Management Group LLC acquired a new stake in shares of Analog Devices during the 4th quarter valued at approximately $29,000. Finally, Riverview Trust Co acquired a new stake in shares of Analog Devices during the first quarter worth approximately $30,000. Institutional investors hold 86.81% of the company’s shares.

Confidential activity

In related news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated 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 completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a letter filed with the Securities and Exchange Commission, which is available on the SEC’s website. In related news, 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 directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Additionally, CEO Vincent Roche sold 10,000 shares of Analog Devices stock on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the CEO now owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The announcement of this sale can be found here. In the last quarter, insiders sold 24,707 shares of company stock worth $4,874,613. Corporate insiders own 0.31% of the company’s shares.

Dividend announcement for analog devices

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Stockholders of record on Tuesday, June 4 will receive a dividend of $0.92 per share. 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 1.58%. Analog Devices’ payout ratio is currently 85.98%.

Analog devices company profile

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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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