Analog Devices (ADI) reported quarterly earnings results on Wednesday, Aug-17-2016. The company said it had a profit of $0.82 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.76. The company posted revenue of $869.59 million in the period, compared to analysts expectations of $849.90 million. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.
Many Wall Street Analysts have commented on Analog Devices. Company shares were Reiterated by Deutsche Bank on Jul 27, 2016 to “Hold”, Firm has raised the Price Target to $ 65 from a previous price target of $55 .Company shares were Reiterated by Barclays on Jul 27, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 64 from a previous price target of $55 .Company shares were Reiterated by MKM Partners on Jul 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 66 from a previous price target of $56 .
Analog Devices opened for trading at $64.24 and hit $65.49 on the upside on Monday, eventually ending the session at $65.27, with a gain of 1.60% or 1.03 points. The heightened volatility saw the trading volume jump to 25,34,051 shares. Company has a market cap of $20,060 M.
In a different news, on Jul 15, 2016, Rick D Hess (SVP, Comm & Automotive Group) sold 6,000 shares at $60.03 per share price. According to the SEC, on Apr 8, 2016, Kenton J Sicchitano (director) sold 15,000 shares at $58.28 per share price. On Apr 5, 2016, Margaret K Seif (SVP, CLO & Secretary) sold 2,000 shares at $59.00 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.