Zacks: Brokerages Anticipate Analog Devices, Inc. (NASDAQ:ADI) Will Post Quarterly Sales of $1.45 Billion

Equities research analysts expect Analog Devices, Inc. (NASDAQ:ADI) to post sales of $1.45 billion for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Analog Devices’ earnings, with the lowest sales estimate coming in at $1.45 billion and the highest estimate coming in at $1.46 billion. Analog Devices posted sales of $1.57 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.6%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, August 21st.

According to Zacks, analysts expect that Analog Devices will report full year sales of $6.01 billion for the current year, with estimates ranging from $5.98 billion to $6.07 billion. For the next fiscal year, analysts expect that the company will report sales of $6.17 billion, with estimates ranging from $5.99 billion to $6.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Analog Devices.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.30 by $0.06. Analog Devices had a net margin of 25.18% and a return on equity of 19.17%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $1.45 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis.

Several research analysts recently issued reports on the stock. Piper Jaffray Companies increased their price target on shares of Analog Devices from $118.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Nomura began coverage on shares of Analog Devices in a research note on Monday, June 3rd. They issued a “neutral” rating and a $90.00 price objective for the company. Zacks Investment Research cut shares of Analog Devices from a “hold” rating to a “strong sell” rating and set a $102.00 price objective for the company. in a research note on Wednesday, May 29th. Royal Bank of Canada dropped their price objective on shares of Analog Devices from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, May 22nd. Finally, Morgan Stanley dropped their target price on shares of Analog Devices from $100.00 to $97.00 and set an “equal weight” rating for the company in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $109.94.

NASDAQ:ADI traded down $1.71 during mid-day trading on Friday, hitting $112.75. The company’s stock had a trading volume of 135,072 shares, compared to its average volume of 1,761,549. Analog Devices has a fifty-two week low of $76.62 and a fifty-two week high of $124.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.08. The firm has a market cap of $44.73 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.43. The company has a fifty day simple moving average of $114.31.

In other news, SVP Yusuf Jamal sold 31,867 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $98.19, for a total transaction of $3,129,020.73. Following the transaction, the senior vice president now owns 2,124 shares in the company, valued at $208,555.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $98.23, for a total value of $982,300.00. Following the transaction, the chief executive officer now owns 31,206 shares in the company, valued at approximately $3,065,365.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,266 shares of company stock valued at $9,821,774. 0.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. First American Bank raised its stake in Analog Devices by 1.7% during the 1st quarter. First American Bank now owns 9,628 shares of the semiconductor company’s stock valued at $1,014,000 after purchasing an additional 161 shares during the period. Fiera Capital Corp raised its stake in shares of Analog Devices by 2.8% during the 1st quarter. Fiera Capital Corp now owns 1,667,696 shares of the semiconductor company’s stock worth $175,559,000 after buying an additional 44,740 shares in the last quarter. Tradition Capital Management LLC raised its stake 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 buying an additional 1,015 shares in the last quarter. Timucuan Asset Management Inc. FL raised its stake in shares of Analog Devices by 2.2% during the 1st quarter. Timucuan Asset Management Inc. FL now owns 820,650 shares of the semiconductor company’s stock worth $86,390,000 after buying an additional 17,904 shares in the last quarter. Finally, Riverbridge Partners LLC raised its stake 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 buying an additional 35,586 shares in the last quarter. Hedge funds and other institutional investors own 89.27% of the company’s stock.

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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