Analog Devices (ADI) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Analog Devices (NASDAQ:ADI) issued its earnings results on Wednesday. The semiconductor company reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.06, Briefing.com reports. Analog Devices had a return on equity of 19.99% and a net margin of 25.42%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $1.45 earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. Analog Devices updated its Q3 2019 guidance to $1.15-1.29 EPS and its Q3 guidance to $1.15-1.29 EPS.

Shares of ADI opened at $101.44 on Thursday. The stock has a market capitalization of $36.79 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27. Analog Devices has a one year low of $76.62 and a one year high of $118.54. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.54.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 31st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, May 30th. Analog Devices’s dividend payout ratio is currently 36.36%.

In related news, SVP Margaret K. Seif sold 10,000 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $105.60, for a total value of $1,056,000.00. Following the completion of the transaction, the senior vice president now owns 13,517 shares of the company’s stock, valued at $1,427,395.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Champy sold 4,250 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $115.04, for a total value of $488,920.00. Following the transaction, the director now directly owns 17,510 shares in the company, valued at approximately $2,014,350.40. The disclosure for this sale can be found here. Insiders sold 99,618 shares of company stock valued at $10,796,427 in the last three months. 0.50% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. First American Bank raised its position in shares of Analog Devices by 1.7% during the 1st quarter. First American Bank now owns 9,628 shares of the semiconductor company’s stock worth $1,014,000 after purchasing an additional 161 shares during the period. 10 15 Associates Inc. raised its position in shares of Analog Devices by 0.7% during the 4th quarter. 10 15 Associates Inc. now owns 30,283 shares of the semiconductor company’s stock worth $2,599,000 after purchasing an additional 220 shares during the period. Riverbridge Partners LLC raised its position in shares of Analog Devices by 7.6% during the 1st quarter. Riverbridge Partners LLC now owns 501,781 shares of the semiconductor company’s stock worth $52,822,000 after purchasing an additional 35,586 shares during the period. Tradition Capital Management LLC raised its position in shares of Analog Devices by 18.6% during the 1st quarter. Tradition Capital Management LLC now owns 6,470 shares of the semiconductor company’s stock worth $681,000 after purchasing an additional 1,015 shares during the period. Finally, Virtu Financial LLC raised its position in shares of Analog Devices by 1,429.5% during the 1st quarter. Virtu Financial LLC now owns 41,679 shares of the semiconductor company’s stock worth $4,387,000 after purchasing an additional 38,954 shares during the period. 89.02% of the stock is currently owned by institutional investors.

Several equities research analysts have recently weighed in on ADI shares. Oppenheimer upped their target price on Analog Devices to $117.00 and gave the stock an “outperform” rating in a research report on Thursday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 target price (down previously from $140.00) on shares of Analog Devices in a research report on Wednesday. BidaskClub raised Analog Devices from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 30th. Zacks Investment Research raised Analog Devices from a “sell” rating to a “hold” rating in a research report on Monday, February 18th. Finally, ValuEngine raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, January 25th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. Analog Devices currently has an average rating of “Hold” and an average price target of $104.72.

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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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