Wall Street brokerages predict that Analog Devices, Inc. (NASDAQ:ADI) will report $1.50 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Analog Devices’ earnings, with the highest sales estimate coming in at $1.52 billion and the lowest estimate coming in at $1.50 billion. Analog Devices reported sales of $1.51 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 0.7%. The company is scheduled to report its next earnings results before the market opens on Wednesday, May 22nd.
On average, analysts expect that Analog Devices will report full-year sales of $6.20 billion for the current fiscal year, with estimates ranging from $6.14 billion to $6.33 billion. For the next financial year, analysts expect that the company will report sales of $6.51 billion, with estimates ranging from $6.33 billion to $6.90 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Analog Devices.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.05. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.51 billion. Analog Devices had a net margin of 25.42% and a return on equity of 19.99%. Analog Devices’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 EPS.
Several analysts have weighed in on ADI shares. Zacks Investment Research raised shares of Analog Devices from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Bank of America raised shares of Analog Devices from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $96.00 to $125.00 in a research report on Monday, February 11th. ValuEngine raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, January 25th. Piper Jaffray Companies reissued an “outperform” rating and set a $112.00 target price on shares of Analog Devices in a research report on Friday, February 1st. Finally, BMO Capital Markets boosted their target price on shares of Analog Devices to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $105.67.
In other Analog Devices news, SVP Martin Cotter sold 680 shares of Analog Devices stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $109.62, for a total transaction of $74,541.60. Following the completion of the sale, the senior vice president now directly owns 173 shares in the company, valued at approximately $18,964.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 12,939 shares of Analog Devices stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $104.91, for a total transaction of $1,357,430.49. Following the sale, the chief executive officer now owns 29,395 shares of the company’s stock, valued at $3,083,829.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,120 shares of company stock valued at $12,114,745. Company insiders own 0.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its stake in shares of Analog Devices by 8,439.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,472,596 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 3,431,930 shares during the period. Norges Bank acquired a new position in shares of Analog Devices in the 4th quarter valued at $292,919,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Analog Devices in the 1st quarter valued at $192,118,000. Whale Rock Capital Management LLC acquired a new position in shares of Analog Devices in the 1st quarter valued at $152,676,000. Finally, FMR LLC lifted its stake in shares of Analog Devices by 18.3% in the 4th quarter. FMR LLC now owns 7,775,405 shares of the semiconductor company’s stock valued at $667,363,000 after purchasing an additional 1,200,683 shares during the period. Institutional investors and hedge funds own 91.21% of the company’s stock.
NASDAQ:ADI opened at $100.83 on Monday. The company has a market cap of $37.14 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.49 and a beta of 1.27. Analog Devices has a twelve month low of $76.62 and a twelve month high of $118.54. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.54.
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.
Further Reading: What is Put Option Volume?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.