Analog Devices, Inc. (NASDAQ:ADI) – Equities researchers at Piper Jaffray Companies decreased their FY2019 EPS estimates for Analog Devices in a report released on Wednesday, May 22nd. Piper Jaffray Companies analyst H. Kumar now anticipates that the semiconductor company will post earnings of $5.20 per share for the year, down from their prior estimate of $5.49. Piper Jaffray Companies currently has a “Buy” rating and a $118.00 target price on the stock. Piper Jaffray Companies also issued estimates for Analog Devices’ Q2 2020 earnings at $1.30 EPS, Q3 2020 earnings at $1.37 EPS, Q4 2020 earnings at $1.46 EPS and FY2020 earnings at $5.34 EPS.
ADI has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Analog Devices from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Sanford C. Bernstein cut shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $106.00 price objective for the company. in a report on Monday, March 25th. Bank of America upgraded shares of Analog Devices from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $96.00 to $125.00 in a report on Monday, February 11th. ValuEngine cut shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Finally, SunTrust Banks lifted their price objective on shares of Analog Devices to $126.00 and gave the company an “average” rating in a report on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Analog Devices has an average rating of “Hold” and a consensus target price of $104.95.
Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.06. Analog Devices had a net margin of 25.42% and a return on equity of 19.99%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 31st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.19%. The ex-dividend date is Thursday, May 30th. Analog Devices’s dividend payout ratio (DPR) is presently 36.36%.
In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.50, for a total transaction of $1,165,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael Sondel sold 3,010 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $108.64, for a total transaction of $327,006.40. Following the transaction, the chief accounting officer now owns 5,556 shares in the company, valued at $603,603.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,203 shares of company stock worth $7,869,101. 0.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in ADI. Oregon Public Employees Retirement Fund boosted its holdings in Analog Devices by 8,439.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,472,596 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 3,431,930 shares during the last quarter. Norges Bank purchased a new position in Analog Devices during the fourth quarter worth about $292,919,000. Jericho Capital Asset Management L.P. purchased a new position in Analog Devices during the first quarter worth about $192,118,000. Whale Rock Capital Management LLC purchased a new position in Analog Devices during the first quarter worth about $152,676,000. Finally, FMR LLC boosted its holdings in Analog Devices by 18.3% during the fourth quarter. FMR LLC now owns 7,775,405 shares of the semiconductor company’s stock worth $667,363,000 after purchasing an additional 1,200,683 shares during the last quarter. Institutional investors and hedge funds own 89.02% of the company’s stock.
Analog Devices Company Profile
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.
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