Analog Devices (NASDAQ:ADI – Get Free Report) issued its quarterly earnings results on Wednesday. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08, Briefing.com reports. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company posted $2.49 earnings per share. The business’s revenue was down 24.8% on a year-over-year basis. Analog Devices updated its Q4 2024 guidance to 1.530-1.730 EPS and its Q4 guidance to $1.53-$1.73 EPS.
Analog Devices Stock Performance
ADI traded up $6.48 during trading on Friday, hitting $228.39. 3,177,344 shares of the stock were exchanged, compared to its average volume of 3,378,408. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. Analog Devices has a 1-year low of $154.99 and a 1-year high of $244.14. The stock has a fifty day moving average price of $226.38 and a two-hundred day moving average price of $211.06. The firm has a market capitalization of $113.33 billion, a P/E ratio of 51.85, a PEG ratio of 3.69 and a beta of 1.08.
Analog Devices Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.
Insider Transactions at Analog Devices
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on ADI shares. KeyCorp lifted their price target on Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Susquehanna lifted their price target on shares of Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research report on Thursday, May 23rd. Barclays increased their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. TD Cowen lifted their target price on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $245.64.
Get Our Latest Stock Analysis on ADI
About Analog Devices
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.
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