Equities Analysts Reduce Earnings Estimates for Analog Devices, Inc. (NASDAQ:ADI)

Equities Analysts Reduce Earnings Estimates for Analog Devices, Inc. (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI) – Equities research analysts at SunTrust Banks lowered their FY2020 earnings per share estimates for Analog Devices in a research note issued to investors on Wednesday, February 19th. SunTrust Banks analyst W. Stein now anticipates that the semiconductor company will earn $4.79 per share for the year, down from their prior forecast of $4.90. SunTrust Banks currently has a “Buy” rating and a $148.00 target price on the stock. SunTrust Banks also issued estimates for Analog Devices’ Q4 2020 earnings at $1.40 EPS and Q1 2021 earnings at $1.36 EPS.

A number of other research analysts have also weighed in on the stock. Morgan Stanley raised their target price on shares of Analog Devices from $118.00 to $123.00 and gave the company an “equal weight” rating in a report on Thursday. Piper Jaffray Companies reissued a “buy” rating and issued a $135.00 target price on shares of Analog Devices in a report on Wednesday, November 27th. Deutsche Bank raised their target price on shares of Analog Devices from $115.00 to $120.00 and gave the company a “hold” rating in a report on Thursday. Barclays reissued a “buy” rating and issued a $135.00 target price on shares of Analog Devices in a report on Sunday, January 19th. Finally, KeyCorp raised their target price on shares of Analog Devices from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $129.59.Analog Devices stock opened at $122.76 on Monday. The stock has a market cap of $45.86 billion, a P/E ratio of 37.89, a PEG ratio of 2.12 and a beta of 1.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 0.91. Analog Devices has a 1 year low of $95.51 and a 1 year high of $127.30. The firm’s 50 day moving average price is $117.07 and its 200-day moving average price is $113.54.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.03. Analog Devices had a net margin of 21.06% and a return on equity of 15.38%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business earned $1.33 EPS. The firm’s revenue was down 15.6% compared to the same quarter last year.

Hedge funds have recently added to or reduced their stakes in the stock. North Star Asset Management Inc. increased its stake in shares of Analog Devices by 1.4% in the 3rd quarter. North Star Asset Management Inc. now owns 71,830 shares of the semiconductor company’s stock worth $8,025,000 after acquiring an additional 996 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Analog Devices by 0.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 322,999 shares of the semiconductor company’s stock worth $36,107,000 after acquiring an additional 1,223 shares in the last quarter. McGuire Investment Group LLC increased its stake in shares of Analog Devices by 0.6% in the 3rd quarter. McGuire Investment Group LLC now owns 88,943 shares of the semiconductor company’s stock worth $9,938,000 after acquiring an additional 569 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Analog Devices by 3.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 4,283 shares of the semiconductor company’s stock worth $479,000 after acquiring an additional 159 shares in the last quarter. Finally, Connors Investor Services Inc. bought a new position in shares of Analog Devices in the 3rd quarter worth about $927,000. Hedge funds and other institutional investors own 87.11% of the company’s stock.

In related news, SVP Steve Pietkiewicz sold 1,750 shares of Analog Devices stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $120.16, for a total value of $210,280.00. Following the completion of the sale, the senior vice president now directly owns 23,491 shares in the company, valued at $2,822,678.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $110.05, for a total value of $1,100,500.00. Following the completion of the sale, the chief executive officer now owns 31,206 shares of the company’s stock, valued at $3,434,220.30. The disclosure for this sale can be found here. Insiders have sold 98,420 shares of company stock valued at $11,690,387 over the last three months. Insiders own 0.42% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, March 10th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.02%. Analog Devices’s dividend payout ratio is currently 41.94%.

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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