Brokers Offer Predictions for Analog Devices, Inc.’s FY2024 Earnings (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI) – Equities research analysts at Zacks Research upped their FY2024 earnings per share estimates for Analog Devices in a report released on Wednesday, September 11th. Zacks Research analyst R. Department now anticipates that the semiconductor company will post earnings per share of $6.31 for the year, up from their prior estimate of $6.11. The consensus estimate for Analog Devices’ current full-year earnings is $6.33 per share. Zacks Research also issued estimates for Analog Devices’ Q4 2024 earnings at $1.60 EPS, Q1 2025 earnings at $1.57 EPS, Q3 2025 earnings at $1.88 EPS, Q4 2025 earnings at $2.23 EPS, FY2025 earnings at $7.38 EPS, Q1 2026 earnings at $1.97 EPS and Q3 2026 earnings at $2.41 EPS.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period last year, the firm posted $2.49 earnings per share.

ADI has been the subject of several other research reports. Truist Financial decreased their price target on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Robert W. Baird upped their price target on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, July 16th. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Barclays upped their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $251.45.

Analog Devices Trading Up 1.8 %

Shares of ADI stock opened at $225.42 on Friday. The company has a market cap of $111.86 billion, a P/E ratio of 52.67, a PEG ratio of 3.74 and a beta of 1.07. The stock has a 50 day simple moving average of $224.69 and a two-hundred day simple moving average of $215.06. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices has a fifty-two week low of $154.99 and a fifty-two week high of $244.14.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,495 shares of company stock worth $7,181,458. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Analog Devices

A number of institutional investors and hedge funds have recently modified their holdings of the business. Private Wealth Management Group LLC purchased a new position in Analog Devices in the fourth quarter worth about $29,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices in the 2nd quarter worth $29,000. Riverview Trust Co bought a new position in Analog Devices in the 1st quarter worth $30,000. ORG Partners LLC boosted its holdings in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, CVA Family Office LLC boosted its holdings in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Company Profile

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.