According to Zacks, “Analog Devices is a leading supplier of analog and DSP integrated circuits. Its third quarter earnings were above the Zacks Consensus Estimate. The company has agreed to acquire Linear business in a cash and stock deal worth $14.8 billion. The acquisition is expected to be accretive to non-GAAP earnings and cash flow. It also acquired the Cyber Security Solutions to enhance its capabilities in the field of secure radio communications. Though we remain concerned about weakness in the consumer market, ADI is solidly positioned in growth markets like industrial, auto and communication. Also its products continue to see very strong deployment in the emerging automotive market.”
Other equities analysts have also issued reports about the company. Pacific Crest reaffirmed a buy rating on shares of Analog Devices in a research note on Sunday, September 11th. Stifel Nicolaus lifted their price objective on Analog Devices from $78.00 to $80.00 and gave the company a buy rating in a research note on Thursday, September 8th. B. Riley reaffirmed a buy rating and issued a $74.00 price objective on shares of Analog Devices in a research note on Saturday, August 20th. Argus reaffirmed a buy rating and issued a $73.00 price objective on shares of Analog Devices in a research note on Thursday, August 18th. Finally, Morgan Stanley reaffirmed a buy rating and issued a $78.00 price objective on shares of Analog Devices in a research note on Thursday, August 18th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $70.64.
Analog Devices (NASDAQ:ADI) opened at 63.35 on Thursday. The firm has a 50-day moving average of $62.90 and a 200 day moving average of $59.83. The stock has a market capitalization of $19.48 billion, a price-to-earnings ratio of 29.92 and a beta of 1.25. Analog Devices has a 52 week low of $47.24 and a 52 week high of $66.91.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 17th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Analog Devices had a return on equity of 19.40% and a net margin of 19.49%. The firm had revenue of $870 million for the quarter, compared to analyst estimates of $847.43 million. During the same period last year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts anticipate that Analog Devices will post $2.92 EPS for the current year.
In other Analog Devices news, SVP Rick D. Hess sold 6,000 shares of the business’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $60.03, for a total transaction of $360,180.00. Following the completion of the transaction, the senior vice president now owns 36,495 shares in the company, valued at approximately $2,190,794.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John C. Hodgson sold 7,500 shares of the company’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $64.42, for a total value of $483,150.00. Following the completion of the sale, the director now owns 18,485 shares of the company’s stock, valued at approximately $1,190,803.70. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc raised its stake in shares of Analog Devices by 2.1% in the first quarter. Legal & General Group Plc now owns 1,300,917 shares of the company’s stock valued at $76,999,000 after buying an additional 27,162 shares during the period. Bank of Montreal Can purchased a new stake in shares of Analog Devices during the second quarter valued at $12,734,000. Candriam Luxembourg S.C.A. raised its stake in shares of Analog Devices by 119.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 623,417 shares of the company’s stock valued at $35,312,000 after buying an additional 339,513 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Analog Devices during the first quarter valued at $112,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Analog Devices during the first quarter valued at $1,547,000. Institutional investors and hedge funds own 85.71% of the company’s stock.
About Analog Devices
Analog Devices, Inc is engaged in designing, manufacturing and marketing analog, mixed-signal and digital signal processing (DSP) technology, including integrated circuits (ICs), algorithms, software and subsystems. The Company’s operating segments include United States, Rest of North/South America, Europe, Japan, China and Rest of Asia.
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