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Stock analysts forecast earnings for Analog Devices, Inc. for the second quarter of 2024 (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI – Free Report) – Equities research analysts at Zacks Research lowered their second-quarter 2024 earnings per share (EPS) estimates for Analog Devices in a research report issued to clients and investors on Wednesday, May 8. Zacks Research analyst S. Mete now forecasts that the semiconductor company will post earnings of $1.26 per share for the quarter, up from the previous forecast of $1.28. The consensus estimate for Analog Devices’ current full-year earnings is $5.86 per share. Zacks Research also issued estimates for Analog Devices’ 2024 earnings of $5.79 per share, 2025 earnings of $6.98 per share and 2026 earnings of $9.43 per share.

Other analysts have also recently published reports on the company. Barclays upped their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Oppenheimer reissued an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a research note on Thursday, February 22nd. The Goldman Sachs Group raised their target price on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. KeyCorp increased their price target on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Finally, Wolfe Research upgraded Analog Devices from an “equal perform” rating to an “outperform” rating and set a $225.00 price target for the company in a report on Thursday, January 18th. Seven equity analysts rated the company with a hold rating, and fourteen of them issued a buy rating. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $208.17.

Get our latest analysis of analog stocks

Analog equipment inventory performance

NASDAQ:ADI shares rose $1.71 during Friday’s session to $206.50. There were 492,944 shares of the company traded on the exchange, compared to average volume of 3,294,059. The market capitalization of the company’s shares is $102.41 billion, P/E ratio is 36.64, price to earnings growth ratio is 5.01, and the beta coefficient is 1.14. Analog Devices has a 12-month low of $154.99 and a 12-month high of $207.76. The company has a 50-day moving average of $195.19 and a 200-day moving average of $189.00. The company has a debt to equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices ( NASDAQ:ADI – Get Free Report ) last released its earnings results on Wednesday, February 21st. The semiconductor company reported EPS of $1.73 for the quarter, which topped the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the company earned $2.75 EPS. The company’s revenue declined 22.7% year-over-year.

Hedge funds weigh on analog devices

Several large investors have recently increased or decreased their stake in the company. Pinnacle Bancorp Inc. increased its position in the analog devices segment by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares during the period. USA Financial Formulas increased its position in shares of Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Silver Oak Securities Incorporated purchased a new position in Analog Devices during the third quarter worth approximately $29,000. Cetera Trust Company NA acquired a new position in Analog Devices during the fourth quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds hold 86.81% of the company’s shares.

Buying and selling confidential information

In related news, VP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64 for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock valued at $1,259,164.44. The sale was disclosed in a filing with the Securities and Exchange Commission, available at this hyperlink. Additionally, Vice President Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction amount of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The announcement of this sale can be found here. In the last quarter, insiders sold 24,707 shares of company stock worth $4,874,613. Insiders own 0.31% of the company’s shares.

Analog devices increase the dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15. Record investors received a dividend of $0.92 on Tuesday, March 5. This represents an increase from Analog Devices’ previous quarterly dividend of $0.86. The dividend payment date was Monday, March 4. This represents an annual dividend of $3.68 and a dividend yield of 1.78%. Analog Devices’ payout ratio is currently 65.83%.

Analog devices company profile

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Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

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