Analog Devices (NASDAQ:ADI) Releases Earnings Results, Beats Expectations By $0.08 EPS

Analog Devices (NASDAQ:ADI – Get Rating) posted its quarterly earnings data on Wednesday. The semiconductor company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.75 by $0.08, RTT News reports. Analog Devices had a return on equity of 15.27% and a net margin of 28.16%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the company earned $2.40 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. Analog Devices updated its Q3 guidance to $2.42-2.62 EPS.

Analog Devices Price Performance

ADI opened at $172.39 on Friday. The stock’s 50-day moving average price is $186.11 and its 200 day moving average price is $176.80. Analog Devices has a 12-month low of $133.48 and a 12-month high of $198.24. The company has a current ratio of 1.79, a quick ratio of 1.50 and a debt-to-equity ratio of 0.18. The firm has a market cap of $87.20 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.33 and a beta of 1.15.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Monday, June 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 2nd. Analog Devices’s payout ratio is 48.73%.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the transaction, the chief financial officer now owns 23,871 shares of the company’s stock, valued at approximately $4,464,115.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Analog Devices news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $187.01, for a total value of $4,909,012.50. Following the completion of the transaction, the chief financial officer now owns 23,871 shares of the company’s stock, valued at approximately $4,464,115.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Champy sold 1,495 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $185.44, for a total transaction of $277,232.80. Following the completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,181,438.24. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Analog Devices

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortis Capital Advisors LLC acquired a new position in shares of Analog Devices during the first quarter worth about $31,000. Worth Asset Management LLC acquired a new position in shares of Analog Devices during the first quarter worth about $33,000. Quarry LP grew its position in shares of Analog Devices by 267.4% during the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock worth $33,000 after buying an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Analog Devices in the first quarter valued at $39,000. Finally, Live Oak Investment Partners purchased a new position in Analog Devices in the fourth quarter valued at $48,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ADI. Susquehanna reduced their price objective on Analog Devices from $225.00 to $215.00 in a research note on Wednesday. KeyCorp decreased their target price on shares of Analog Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday. Credit Suisse Group raised their target price on shares of Analog Devices from $185.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. The Goldman Sachs Group raised their target price on shares of Analog Devices from $186.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Finally, Stifel Nicolaus decreased their target price on shares of Analog Devices from $225.00 to $210.00 in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.17.

Analog Devices Company Profile

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.