Analog Devices (NASDAQ:ADI) Updates Q4 Earnings Guidance

Analog Devices (NASDAQ:ADI) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.53-$1.73 for the period, compared to the consensus estimate of $1.62. The company issued revenue guidance of $2.30-$2.50 billion, compared to the consensus revenue estimate of $2.38 billion. Analog Devices also updated its Q4 2024 guidance to 1.530-1.730 EPS.

Analog Devices Stock Performance

Shares of ADI stock opened at $228.39 on Friday. The stock has a 50-day moving average of $226.33 and a 200-day moving average of $211.31. Analog Devices has a one year low of $154.99 and a one year high of $244.14. The stock has a market cap of $113.33 billion, a PE ratio of 53.36, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period last year, the business posted $2.49 earnings per share. As a group, sell-side analysts expect that Analog Devices will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.92 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.61%. Analog Devices’s payout ratio is 85.98%.

Analyst Ratings Changes

ADI has been the topic of several recent analyst reports. UBS Group lifted their price objective on Analog Devices from $225.00 to $275.00 and gave the company a buy rating in a report on Thursday, May 23rd. Bank of America cut their price target on shares of Analog Devices from $260.00 to $255.00 and set a buy rating on the stock in a research note on Thursday. Truist Financial lowered their price objective on shares of Analog Devices from $275.00 to $266.00 and set a buy rating for the company in a research report on Thursday. Oppenheimer restated an outperform rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday. Finally, Robert W. Baird upped their target price on shares of Analog Devices from $200.00 to $250.00 and gave the stock an outperform rating in a research note on Friday, May 24th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Analog Devices has an average rating of Moderate Buy and an average target price of $245.64.

Insider Buying and Selling at Analog Devices

In other news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Champy sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was 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 $1,487,947.05. The disclosure for this sale can be found here. Insiders sold a total of 41,812 shares of company stock worth $9,648,861 over the last quarter. 0.31% of the stock is currently owned by insiders.

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.