Analog Devices (NASDAQ:ADI) released its quarterly earnings results on Wednesday. The semiconductor company reported $1.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.03, Briefing.com reports. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. Analog Devices had a net margin of 20.14% and a return on equity of 14.80%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the business earned $1.26 EPS. Analog Devices updated its Q4 guidance to $1.22-1.42 EPS and its Q4 2020
Pre-Market guidance to 1.22-1.42 EPS.
Analog Devices stock opened at $117.45 on Friday. The firm’s 50 day simple moving average is $117.75 and its 200-day simple moving average is $110.44. The company has a market cap of $43.53 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.47 and a quick ratio of 0.92. Analog Devices has a fifty-two week low of $79.07 and a fifty-two week high of $127.39.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Friday, August 28th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, August 27th. Analog Devices’s dividend payout ratio (DPR) is currently 48.16%.
In related news, SVP Steve Pietkiewicz sold 3,710 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $123.29, for a total transaction of $457,405.90. Also, Director James Champy sold 2,155 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $113.61, for a total transaction of $244,829.55. Following the transaction, the director now directly owns 12,415 shares in the company, valued at $1,410,468.15. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
Several analysts recently weighed in on ADI shares. BidaskClub downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a research report on Friday, July 24th. Robert W. Baird cut their price objective on shares of Analog Devices from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, May 21st. Deutsche Bank lifted their price objective on shares of Analog Devices from $110.00 to $115.00 and gave the company a “hold” rating in a research report on Thursday, May 21st. SunTrust Banks boosted their price target on shares of Analog Devices from $93.00 to $104.00 and gave the stock a “hold” rating in a research report on Tuesday, June 30th. Finally, KeyCorp boosted their price target on shares of Analog Devices from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $127.30.
Analog Devices Company Profile
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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