Analog Devices (ADI) announced its most recent quarterly financial results on Tuesday, Nov-22-2016. ADI said it had a profit of $1.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.15. Analysts had a consensus of $0.90. The company posted revenue of $1003.00 million in the period, compared to analysts expectations of $942.90 million. ADI’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.
Many Wall Street Analysts have commented on Analog Devices. Analog Devices was Initiated by CLSA to “Outperform” on Oct 20, 2016. Company shares were Reiterated by Stifel on Sep 8, 2016 to “Buy”, Firm has raised the Price Target to $ 80 from a previous price target of $78 .
Analog Devices opened for trading at $67.92 and hit $68.58 on the upside on Monday, eventually ending the session at $68.47, with a gain of 0.38% or 0.26 points. The heightened volatility saw the trading volume jump to 15,80,079 shares. Company has a market cap of $21,053 M.
In a different news, on Oct 5, 2016, John C Hodgson (director) sold 7,500 shares at $64.42 per share price. According to the SEC, on Sep 30, 2016, Peter Real (SVP & Chief Technology Officer) sold 6,500 shares at $64.14 per share price. On Sep 28, 2016, Martin Cotter (SVP, WW Sales & Dig MKTG) sold 10,000 shares at $62.91 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.