Analog Devices (ADI) reported quarterly earnings results on Wednesday, May-18-2016. The company said it had a profit of $0.64 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.62. The company posted revenue of $778.80 million in the period, compared to analysts expectations of $777.65 million. The company’s revenue was down -5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.
Many Wall Street Analysts have commented on Analog Devices. Analog Devices was Downgraded by Raymond James to ” Outperform” on Apr 19, 2016. Drexel Hamilton Initiated Analog Devices on Mar 2, 2016 to “Buy”, Price Target of the shares are set at $62.
Analog Devices opened for trading at $54.87 and hit $55.81 on the upside on Monday, eventually ending the session at $55.43, with a gain of 1.30% or 0.71 points. The heightened volatility saw the trading volume jump to 18,97,141 shares. Company has a market cap of $17,184 M.
In a different news, on Apr 8, 2016, Kenton J Sicchitano (director) sold 15,000 shares at $58.28 per share price. According to the SEC, on Apr 5, 2016, Margaret K Seif (SVP, CLO & Secretary) sold 2,000 shares at $59.00 per share price. On Jan 7, 2016, David Zinsner (SVP, Finance & CFO) sold 7,000 shares at $51.98 per share price, according to the Form-4 filing with the securities and exchange commission.
Analog Devices Inc. is engaged in the design manufacture and marketing of high-performance analog mixed-signal and digital signal processing integrated circuits (ICs). The Company is focused on solving the engineering challenges associated with signal processing in electronic equipment. The Companys produces a wide range of products including data converters amplifiers and linear products radio frequency (RF) ICs power management products sensors based on micro-electro mechanical systems (MEMS) technology and other sensors and processing products including DSP and other processors that are designed to meet the needs of a broad base of customers. The Company focuses on strategic markets where its signal processing technology is often a critical differentiator in its customers products in the industrial automotive consumer and communications markets.