Analog Devices, Inc. (ADI) Expected to Announce Quarterly Sales of $1.50 Billion

Brokerages predict that Analog Devices, Inc. (NASDAQ:ADI) will announce $1.50 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Analog Devices’ earnings, with the lowest sales estimate coming in at $1.50 billion and the highest estimate coming in at $1.52 billion. Analog Devices reported sales of $1.51 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.7%. The firm is expected to report its next earnings report on Wednesday, May 29th.

On average, analysts expect that Analog Devices will report full-year sales of $6.20 billion for the current fiscal year, with estimates ranging from $6.14 billion to $6.33 billion. For the next year, analysts expect that the business will report sales of $6.51 billion, with estimates ranging from $6.33 billion to $6.90 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Analog Devices.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 20th. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. Analog Devices had a return on equity of 19.99% and a net margin of 25.42%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the company earned $1.42 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year.

A number of research analysts have weighed in on the stock. Evercore ISI dropped their price objective on shares of Analog Devices from $105.00 to $96.00 in a research note on Monday, January 14th. SunTrust Banks upped their price objective on shares of Analog Devices to $126.00 and gave the company an “average” rating in a report on Thursday, February 21st. ValuEngine upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, January 25th. BidaskClub upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Finally, Bank of America raised shares of Analog Devices from a “neutral” rating to a “buy” rating and increased their price target for the company from $96.00 to $125.00 in a research note on Monday, February 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Analog Devices currently has an average rating of “Buy” and an average target price of $102.86.

NASDAQ ADI traded up $0.18 during mid-day trading on Friday, hitting $111.64. The company’s stock had a trading volume of 47,440 shares, compared to its average volume of 2,691,582. Analog Devices has a twelve month low of $76.62 and a twelve month high of $111.80. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.54. The company has a market cap of $41.05 billion, a P/E ratio of 18.76, a PEG ratio of 1.65 and a beta of 1.25.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, March 1st were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.93%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, February 28th. Analog Devices’s dividend payout ratio (DPR) is currently 36.36%.

In related news, SVP Martin Cotter sold 680 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $109.62, for a total transaction of $74,541.60. Following the sale, the senior vice president now owns 173 shares of the company’s stock, valued at $18,964.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Eileen Wynne sold 2,736 shares of the company’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $105.28, for a total value of $288,046.08. Following the sale, the chief accounting officer now owns 4,888 shares of the company’s stock, valued at $514,608.64. The disclosure for this sale can be found here. Insiders sold a total of 103,270 shares of company stock valued at $10,975,094 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Analog Devices by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 2,997,755 shares of the semiconductor company’s stock valued at $277,173,000 after acquiring an additional 9,543 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Analog Devices by 54.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,489,046 shares of the semiconductor company’s stock valued at $137,669,000 after purchasing an additional 527,908 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Analog Devices by 287.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,883 shares of the semiconductor company’s stock valued at $1,931,000 after purchasing an additional 15,500 shares during the period. Standard Life Aberdeen plc increased its stake in shares of Analog Devices by 10.9% in the 3rd quarter. Standard Life Aberdeen plc now owns 116,364 shares of the semiconductor company’s stock worth $10,759,000 after acquiring an additional 11,447 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Analog Devices by 52.5% during the third quarter. Renaissance Technologies LLC now owns 46,196 shares of the semiconductor company’s stock valued at $4,271,000 after purchasing an additional 15,900 shares in the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

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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