Analog Devices (NASDAQ:ADI) posted its earnings results on Wednesday. The semiconductor company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07, Bloomberg Earnings reports. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.51 billion. Analog Devices had a return on equity of 20.34% and a net margin of 17.72%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 EPS. Analog Devices updated its Q4 guidance to $1.52 EPS.
ADI stock traded down $3.03 during midday trading on Wednesday, reaching $92.89. The company’s stock had a trading volume of 102,723 shares, compared to its average volume of 1,978,342. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.65. Analog Devices has a 1 year low of $78.09 and a 1 year high of $103.59. The firm has a market cap of $35.08 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 1.31 and a beta of 1.21.
In other Analog Devices news, SVP Joseph Hassett sold 17,150 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $97.95, for a total value of $1,679,842.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $95.43, for a total value of $954,300.00. Following the completion of the sale, the chief executive officer now owns 19,699 shares in the company, valued at approximately $1,879,875.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,050 shares of company stock worth $7,712,311. Insiders own 0.70% of the company’s stock.
A number of research analysts have recently commented on the company. Deutsche Bank increased their target price on Analog Devices from $87.00 to $93.00 and gave the company a “hold” rating in a research report on Thursday, May 31st. Stifel Nicolaus increased their target price on Analog Devices from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, May 31st. Zacks Investment Research downgraded Analog Devices from a “buy” rating to a “hold” rating in a research report on Monday, May 21st. BidaskClub downgraded Analog Devices from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. Finally, Nomura assumed coverage on Analog Devices in a research report on Wednesday, July 18th. They issued a “neutral” rating and a $100.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $104.63.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
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