Analog Devices, Inc. (NASDAQ:ADI) – Research analysts at KeyCorp cut their Q3 2018 earnings estimates for shares of Analog Devices in a note issued to investors on Wednesday, according to Zacks Investment Research. KeyCorp analyst M. Mcconnell now forecasts that the semiconductor company will post earnings of $1.35 per share for the quarter, down from their prior estimate of $1.37. KeyCorp has a “Overweight” rating and a $110.00 price objective on the stock. KeyCorp also issued estimates for Analog Devices’ Q1 2019 earnings at $1.26 EPS and Q1 2020 earnings at $1.42 EPS.
Other research analysts have also recently issued research reports about the company. Stifel Nicolaus cut their price target on Analog Devices from $100.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, November 22nd. Jefferies Group boosted their price target on Analog Devices to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. B. Riley boosted their price target on Analog Devices from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Drexel Hamilton reiterated a “buy” rating and issued a $105.00 price target on shares of Analog Devices in a research note on Tuesday, November 21st. Finally, Oppenheimer reiterated a “buy” rating and issued a $100.00 price target on shares of Analog Devices in a research note on Friday, November 17th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Analog Devices has an average rating of “Buy” and a consensus price target of $100.57.
Shares of Analog Devices (NASDAQ ADI) traded down $0.57 during midday trading on Monday, hitting $94.09. The stock had a trading volume of 1,549,718 shares, compared to its average volume of 3,250,000. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.76 and a quick ratio of 1.31. Analog Devices has a 52 week low of $74.65 and a 52 week high of $98.38. The stock has a market capitalization of $34,790.00, a P/E ratio of 276.74, a price-to-earnings-growth ratio of 1.43 and a beta of 1.25.
Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 28th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.13. Analog Devices had a return on equity of 18.78% and a net margin of 13.80%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The company’s revenue was up 54.4% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in ADI. Neuberger Berman Group LLC grew its holdings in Analog Devices by 97.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 4,303,569 shares of the semiconductor company’s stock worth $370,839,000 after buying an additional 2,123,268 shares in the last quarter. Sterling Capital Management LLC bought a new position in Analog Devices in the 4th quarter worth approximately $87,511,000. Boston Partners bought a new position in Analog Devices in the 4th quarter worth approximately $67,877,000. American Century Companies Inc. grew its holdings in Analog Devices by 69.9% in the 4th quarter. American Century Companies Inc. now owns 1,683,434 shares of the semiconductor company’s stock worth $149,876,000 after buying an additional 692,814 shares in the last quarter. Finally, Alkeon Capital Management LLC grew its holdings in Analog Devices by 25.1% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,526,537 shares of the semiconductor company’s stock worth $217,712,000 after buying an additional 507,000 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.
In other news, SVP Joseph Hassett sold 18,400 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $85.06, for a total transaction of $1,565,104.00. Following the sale, the senior vice president now directly owns 30,139 shares in the company, valued at approximately $2,563,623.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Yusuf Jamal sold 718 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $90.89, for a total value of $65,259.02. The disclosure for this sale can be found here. Insiders have sold 84,618 shares of company stock worth $7,554,228 in the last 90 days. 0.70% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Friday, March 9th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.92 annualized dividend and a yield of 2.04%. This is a boost from Analog Devices’s previous quarterly dividend of $0.45. Analog Devices’s dividend payout ratio is presently 564.71%.
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About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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