Analog Devices (NASDAQ:ADI) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Analog Devices (NASDAQ:ADI) 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

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,570,541.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director James Champy sold 4,200 shares of Analog Devices stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,487,947.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,812 shares of company stock worth $9,648,861. Insiders own 0.31% of the company’s stock.

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.

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.