Analog Devices (NASDAQ:ADI) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

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Analog Devices (NASDAQ:ADI) issued its quarterly earnings results on Wednesday. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.05 by $0.03, MarketWatch Earnings reports. Analog Devices had a net margin of 20.05% and a return on equity of 14.51%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business posted $1.36 earnings per share. Analog Devices’s revenue for the quarter was down 13.7% compared to the same quarter last year. Analog Devices updated its Q3 2020
Pre-Market guidance to 0.97-1.19 EPS and its Q3 guidance to $0.97-1.19 EPS.

Shares of ADI stock opened at $111.06 on Friday. The company has a market capitalization of $40.90 billion, a PE ratio of 37.27, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. The firm has a fifty day simple moving average of $102.33 and a 200-day simple moving average of $109.51. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 0.44. Analog Devices has a twelve month low of $79.07 and a twelve month high of $127.30.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Friday, May 29th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.48 annualized dividend and a dividend yield of 2.23%. Analog Devices’s dividend payout ratio (DPR) is presently 48.16%.

In related news, Director Bruce R. Evans purchased 2,631 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were purchased at an average cost of $90.32 per share, with a total value of $237,631.92. Also, SVP Gregory N. Henderson sold 883 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $100.00, for a total transaction of $88,300.00. Following the completion of the sale, the senior vice president now directly owns 5,826 shares in the company, valued at $582,600. The disclosure for this sale can be found here. Insiders sold 12,574 shares of company stock valued at $1,387,634 over the last 90 days. Insiders own 0.42% of the company’s stock.

Several equities analysts recently commented on ADI shares. Zacks Investment Research lowered shares of Analog Devices from a “hold” rating to a “sell” rating and set a $109.00 price target for the company. in a research report on Thursday, May 14th. Citigroup dropped their price target on shares of Analog Devices from $144.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, March 30th. JPMorgan Chase & Co. decreased their price objective on shares of Analog Devices from $134.00 to $119.00 and set a “neutral” rating for the company in a research note on Thursday. Cfra reiterated a “hold” rating and set a $125.00 price objective on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Bank of America boosted their price objective on shares of Analog Devices from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $121.70.

About Analog Devices

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 for Analog Devices (NASDAQ:ADI)

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