Analog Devices (NASDAQ:ADI) Issues Q4 2022 Earnings Guidance

Analog Devices (NASDAQ:ADIGet Rating) updated its fourth quarter 2022 earnings guidance on Wednesday. The company provided EPS guidance of $2.47-$2.67 for the period, compared to the consensus EPS estimate of $2.50. The company issued revenue guidance of $3.05 billion-$3.25 billion, compared to the consensus revenue estimate of $3.11 billion. Analog Devices also updated its Q4 guidance to $2.47-2.67 EPS.

Analyst Ratings Changes

A number of brokerages have commented on ADI. Truist Financial increased their price objective on shares of Analog Devices from $194.00 to $203.00 and gave the stock a buy rating in a report on Thursday, May 19th. Morgan Stanley decreased their target price on shares of Analog Devices from $186.00 to $173.00 and set an equal weight rating for the company in a research note on Friday, June 10th. Oppenheimer reissued an outperform rating and issued a $210.00 target price on shares of Analog Devices in a research report on Friday, August 12th. UBS Group reduced their target price on shares of Analog Devices to $210.00 and set a hold rating for the company in a research report on Thursday, May 19th. Finally, Bank of America reduced their target price on shares of Analog Devices from $220.00 to $190.00 and set a buy rating for the company in a research report on Wednesday, June 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Analog Devices has a consensus rating of Moderate Buy and an average price target of $195.79.

Analog Devices Trading Down 5.3 %

Analog Devices stock traded down $9.42 during trading hours on Wednesday, reaching $169.62. The company had a trading volume of 185,059 shares, compared to its average volume of 3,111,945. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.99 and a quick ratio of 1.53. The company has a 50-day moving average price of $158.46 and a 200 day moving average price of $159.52. The firm has a market cap of $88.17 billion, a price-to-earnings ratio of 50.72, a P/E/G ratio of 1.59 and a beta of 1.13. Analog Devices has a 12-month low of $138.50 and a 12-month high of $191.95.

Analog Devices (NASDAQ:ADIGet Rating) last posted its quarterly earnings data on Wednesday, August 17th. The semiconductor company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Analog Devices had a return on equity of 12.11% and a net margin of 16.84%. Analog Devices’s revenue for the quarter was up 76.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.72 earnings per share. Equities analysts forecast that Analog Devices will post 9.23 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Tuesday, August 30th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.79%. Analog Devices’s payout ratio is presently 86.12%.

Insider Activity at Analog Devices

In other news, CFO Prashanth Mahendra-Rajah sold 3,901 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $163.14, for a total value of $636,409.14. Following the completion of the sale, the chief financial officer now directly owns 16,108 shares of the company’s stock, valued at approximately $2,627,859.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Prashanth Mahendra-Rajah sold 3,901 shares of the firm’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $163.14, for a total value of $636,409.14. Following the completion of the sale, the chief financial officer now owns 16,108 shares of the company’s stock, valued at approximately $2,627,859.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tunc Doluca sold 16,800 shares of Analog Devices stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $180.00, for a total value of $3,024,000.00. Following the completion of the transaction, the director now owns 71,157 shares of the company’s stock, valued at approximately $12,808,260. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,036 shares of company stock valued at $7,384,291. Insiders own 0.47% of the company’s stock.

Institutional Trading of Analog Devices

Large investors have recently modified their holdings of the stock. Evergreen Capital Management LLC increased its holdings in Analog Devices by 13.8% in the first quarter. Evergreen Capital Management LLC now owns 1,736 shares of the semiconductor company’s stock valued at $287,000 after buying an additional 210 shares during the last quarter. Worth Asset Management LLC purchased a new position in Analog Devices in the first quarter valued at $33,000. Kinneret Advisory LLC boosted its stake in Analog Devices by 2.3% in the first quarter. Kinneret Advisory LLC now owns 10,169 shares of the semiconductor company’s stock valued at $1,680,000 after acquiring an additional 227 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Analog Devices by 11.9% in the first quarter. Brown Brothers Harriman & Co. now owns 2,291 shares of the semiconductor company’s stock valued at $378,000 after acquiring an additional 243 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Analog Devices by 38.0% in the first quarter. Parkside Financial Bank & Trust now owns 897 shares of the semiconductor company’s stock valued at $148,000 after acquiring an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

About Analog Devices

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

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Earnings History and Estimates for Analog Devices (NASDAQ:ADI)

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