Analog Devices (ADI) to Release Quarterly Earnings on Wednesday

Analog Devices (NASDAQ:ADIGet Free Report) is set to announce its earnings results before the market opens on Wednesday, May 22nd. Analysts expect the company to announce earnings of $1.26 per share for the quarter. Analog Devices has set its Q2 2024 guidance at 1.160-1.360 EPS and its Q2 guidance at $1.16-1.36 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Analog Devices (NASDAQ:ADIGet Free Report) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices’s quarterly revenue was down 22.7% on a year-over-year basis. During the same period last year, the firm posted $2.75 earnings per share. On average, analysts expect Analog Devices to post $6 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Analog Devices Trading Up 1.7 %

Shares of ADI opened at $211.94 on Wednesday. The company has a market capitalization of $105.10 billion, a P/E ratio of 37.91, a P/E/G ratio of 5.20 and a beta of 1.14. Analog Devices has a 1-year low of $154.99 and a 1-year high of $212.42. The firm’s 50 day simple moving average is $195.95 and its 200 day simple moving average is $190.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a dividend yield of 1.74%. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ADI. Jefferies Financial Group began coverage on shares of Analog Devices in a report on Monday. They issued a “buy” rating and a $250.00 target price on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. Barclays raised their target price on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Truist Financial cut their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Evercore ISI began coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price on the stock. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $209.92.

Check Out Our Latest Stock Analysis on Analog Devices

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is owned by insiders.

Analog Devices Company Profile

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.

Further Reading

Earnings History for Analog Devices (NASDAQ:ADI)

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