According to Zacks, “Analog Devices is a leading supplier of analog and DSP integrated circuits. Its third quarter earnings were above the Zacks Consensus Estimate. The company has agreed to acquire Linear business in a cash and stock deal worth $14.8 billion. The acquisition is expected to be accretive to non-GAAP earnings and cash flow. It also acquired the Cyber Security Solutions to enhance its capabilities in the field of secure radio communications. Though we remain concerned about weakness in the consumer market, ADI is solidly positioned in growth markets like industrial, auto and communication. Also its products continue to see very strong deployment in the emerging automotive market.”
ADI has been the subject of a number of other research reports. Stifel Nicolaus upped their price objective on shares of Analog Devices from $78.00 to $80.00 and gave the company a buy rating in a research report on Thursday, September 8th. Pacific Crest reaffirmed an overweight rating on shares of Analog Devices in a research report on Sunday, August 28th. KeyCorp reaffirmed a buy rating on shares of Analog Devices in a research report on Wednesday, July 6th. Goldman Sachs Group Inc. started coverage on shares of Analog Devices in a research note on Thursday, June 2nd. They issued a sell rating and a $50.00 target price on the stock. Finally, Credit Suisse Group AG reissued a buy rating on shares of Analog Devices in a research note on Tuesday, June 14th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Analog Devices presently has an average rating of Buy and a consensus price target of $70.68.
Shares of Analog Devices (NASDAQ:ADI) opened at 63.74 on Tuesday. The stock’s 50 day moving average price is $62.93 and its 200-day moving average price is $59.47. Analog Devices has a 12-month low of $47.24 and a 12-month high of $66.91. The company has a market cap of $19.60 billion, a PE ratio of 30.11 and a beta of 1.21.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.07. The business earned $870 million during the quarter, compared to analyst estimates of $847.43 million. Analog Devices had a net margin of 19.49% and a return on equity of 19.40%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, equities research analysts forecast that Analog Devices will post $2.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Friday, August 26th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Wednesday, August 24th. Analog Devices’s dividend payout ratio is presently 79.62%.
In other news, SVP Martin Cotter sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $62.91, for a total transaction of $629,100.00. Following the completion of the sale, the senior vice president now owns 10,064 shares in the company, valued at approximately $633,126.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Rick D. Hess sold 6,000 shares of Analog Devices stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $60.03, for a total transaction of $360,180.00. Following the completion of the sale, the senior vice president now owns 36,495 shares of the company’s stock, valued at approximately $2,190,794.85. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in shares of Analog Devices by 216.9% in the first quarter. Franklin Resources Inc. now owns 8,263,450 shares of the company’s stock valued at $489,113,000 after buying an additional 5,655,478 shares during the period. Capital International Investors boosted its stake in shares of Analog Devices by 187.5% in the second quarter. Capital International Investors now owns 3,793,500 shares of the company’s stock valued at $214,864,000 after buying an additional 2,473,800 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Analog Devices by 97.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,956,180 shares of the company’s stock valued at $115,786,000 after buying an additional 967,417 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Analog Devices by 7.3% in the second quarter. JPMorgan Chase & Co. now owns 9,641,077 shares of the company’s stock valued at $546,071,000 after buying an additional 656,762 shares during the period. Finally, Tiverton Asset Management LLC boosted its stake in shares of Analog Devices by 1,410.4% in the second quarter. Tiverton Asset Management LLC now owns 680,032 shares of the company’s stock valued at $16,300,000 after buying an additional 635,009 shares during the period. Institutional investors and hedge funds own 85.71% of the company’s stock.
About Analog Devices
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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