Analog Devices (NASDAQ:ADI) announced its earnings results on Tuesday. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.03, MarketWatch Earnings reports. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. Analog Devices’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 earnings per share. Analog Devices updated its Q1 guidance to 1.21-1.35 EPS and its Q1 2019 guidance to $1.21-1.35 EPS.

Shares of ADI stock traded up $3.61 during mid-day trading on Tuesday, reaching $89.13. The company’s stock had a trading volume of 1,619,590 shares, compared to its average volume of 3,632,409. Analog Devices has a 12-month low of $76.62 and a 12-month high of $103.59. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.60. The company has a market cap of $33.26 billion, a PE ratio of 18.88, a P/E/G ratio of 1.24 and a beta of 1.23.

A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Analog Devices from a “hold” rating to a “sell” rating in a report on Monday. Stifel Nicolaus lifted their price target on shares of Analog Devices from $108.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. BMO Capital Markets reiterated a “buy” rating and issued a $107.00 price target on shares of Analog Devices in a report on Monday, August 20th. ValuEngine upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Finally, SunTrust Banks reiterated a “buy” rating and issued a $118.00 price target on shares of Analog Devices in a report on Thursday, August 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $103.70.

In related news, SVP Margaret K. Seif sold 2,700 shares of Analog Devices stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $90.00, for a total transaction of $243,000.00. Following the sale, the senior vice president now owns 24,517 shares of the company’s stock, valued at approximately $2,206,530. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $85.00, for a total transaction of $850,000.00. Following the sale, the chief executive officer now directly owns 27,376 shares in the company, valued at approximately $2,326,960. The disclosure for this sale can be found here. In the last three months, insiders sold 88,750 shares of company stock worth $8,561,658. Insiders own 0.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ADI. Naples Global Advisors LLC increased its position in shares of Analog Devices by 1.6% in the 2nd quarter. Naples Global Advisors LLC now owns 33,888 shares of the semiconductor company’s stock worth $3,251,000 after purchasing an additional 548 shares during the last quarter. BerganKDV Wealth Management LLC increased its position in shares of Analog Devices by 6.0% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 10,467 shares of the semiconductor company’s stock worth $1,004,000 after purchasing an additional 597 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in shares of Analog Devices by 4.1% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 15,542 shares of the semiconductor company’s stock worth $1,491,000 after purchasing an additional 607 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Analog Devices by 1.1% in the 3rd quarter. CIBC Asset Management Inc now owns 54,482 shares of the semiconductor company’s stock worth $5,037,000 after purchasing an additional 610 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of Analog Devices by 1.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 59,339 shares of the semiconductor company’s stock worth $5,692,000 after purchasing an additional 615 shares during the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices declared that its Board of Directors has approved a share buyback plan on Tuesday, August 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 5.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

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About Analog Devices

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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Earnings History for Analog Devices (NASDAQ:ADI)

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