$1.45 Billion in Sales Expected for Analog Devices, Inc. (NASDAQ:ADI) This Quarter

Equities analysts forecast that Analog Devices, Inc. (NASDAQ:ADI) will post $1.45 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Analog Devices’ earnings, with estimates ranging from $1.45 billion to $1.46 billion. Analog Devices posted sales of $1.57 billion during the same quarter last year, which would indicate a negative year over year growth rate of 7.6%. The company is expected to report its next quarterly earnings report on Wednesday, August 28th.

According to Zacks, analysts expect that Analog Devices will report full year sales of $6.01 billion for the current year, with estimates ranging from $5.98 billion to $6.07 billion. For the next fiscal year, analysts anticipate that the business will post sales of $6.17 billion, with estimates ranging from $5.99 billion to $6.52 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Analog Devices.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.06. Analog Devices had a return on equity of 19.17% and a net margin of 25.18%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business earned $1.45 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year.

A number of research analysts recently weighed in on ADI shares. Morgan Stanley set a $123.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a report on Thursday, May 23rd. Nomura dropped their price objective on Micron Technology from $45.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, June 3rd. Royal Bank of Canada lowered their target price on Analog Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. Sanford C. Bernstein lowered Texas Instruments from an “outperform” rating to a “market perform” rating and set a $108.00 target price on the stock. in a report on Monday, March 25th. Finally, BidaskClub lowered Orthofix Medical from a “buy” rating to a “hold” rating in a report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Analog Devices currently has an average rating of “Buy” and an average price target of $109.94.

Shares of Analog Devices stock traded up $2.28 during trading hours on Friday, hitting $116.20. 2,098,937 shares of the company were exchanged, compared to its average volume of 2,803,008. Analog Devices has a 1 year low of $76.62 and a 1 year high of $118.54. The company has a quick ratio of 1.08, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $106.72. The firm has a market capitalization of $42.42 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.75 and a beta of 1.43.

In related news, SVP Yusuf Jamal sold 31,867 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $98.19, for a total transaction of $3,129,020.73. Following the sale, the senior vice president now owns 2,124 shares of the company’s stock, valued at $208,555.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $115.23, for a total value of $1,152,300.00. Following the sale, the chief executive officer now directly owns 31,206 shares in the company, valued at approximately $3,595,867.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,256 shares of company stock worth $10,476,068. Corporate insiders own 0.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lenox Wealth Advisors LLC purchased a new position in Analog Devices during the second quarter worth about $28,000. Berman Capital Advisors LLC raised its holdings in shares of Analog Devices by 43.8% in the 1st quarter. Berman Capital Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 91 shares during the period. PRW Wealth Management LLC purchased a new position in shares of Analog Devices in the 4th quarter worth about $27,000. TCI Wealth Advisors Inc. raised its holdings in shares of Analog Devices by 820.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 322 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 287 shares during the period. Finally, Liberty Wealth Management LLC purchased a new position in shares of Analog Devices in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

About Analog Devices

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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