Analog Devices (NASDAQ:ADI) Issues Q4 Earnings Guidance

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Analog Devices (NASDAQ:ADI) updated its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.22-1.42 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.24. The company issued revenue guidance of $1.37.1.51 billion, compared to the consensus revenue estimate of $1.42 billion.Analog Devices also updated its Q4 2020
Pre-Market guidance to 1.22-1.42 EPS.

Shares of ADI stock opened at $117.45 on Friday. Analog Devices has a 1 year low of $79.07 and a 1 year high of $127.39. The firm’s 50 day moving average is $117.75 and its 200-day moving average is $110.44. The firm has a market capitalization of $43.53 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 1.89 and a beta of 1.30. The company has a current ratio of 1.47, a quick ratio of 0.92 and a debt-to-equity ratio of 0.44.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 19th. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.03. Analog Devices had a net margin of 20.14% and a return on equity of 14.80%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business earned $1.26 earnings per share. Analog Devices’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices will post 4.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Friday, August 28th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, August 27th. Analog Devices’s payout ratio is presently 48.16%.

Several research analysts have recently weighed in on ADI shares. SunTrust Banks upped their price target on shares of Analog Devices from $93.00 to $104.00 and gave the company a hold rating in a report on Tuesday, June 30th. Morgan Stanley increased their price target on shares of Analog Devices from $101.00 to $117.00 and gave the company an equal weight rating in a research note on Tuesday, June 16th. JPMorgan Chase & Co. dropped their price objective on shares of Analog Devices from $134.00 to $119.00 and set a neutral rating on the stock in a research report on Thursday, May 21st. Zacks Investment Research raised shares of Analog Devices from a hold rating to a strong-buy rating and set a $132.00 price objective on the stock in a research report on Wednesday, July 22nd. Finally, Goldman Sachs Group raised their price target on shares of Analog Devices from $142.00 to $150.00 and gave the stock a buy rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $127.30.

In related news, Director James Champy sold 2,155 shares of Analog Devices 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 sale, the director now directly owns 12,415 shares in the company, valued at approximately $1,410,468.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Steve Pietkiewicz sold 3,710 shares of Analog Devices stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $123.29, for a total transaction of $457,405.90. Company insiders own 0.42% of the company’s stock.

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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Earnings History and Estimates for Analog Devices (NASDAQ:ADI)

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