In today’s recent session, 3.31 million shares of the Analog Devices Inc. (NASDAQ:ADI) have been traded, and its beta is 1.13. Most recently the company’s share price was $172.93, and it changed around -$14.99 or -7.98% from the last close, which brings the market valuation of the company to $95.92B. ADI at last check was trading at a discount to its 52-week high of $198.24, offering almost -14.64% off that amount. The share price’s 52-week low was $133.48, which indicates that the recent value has risen by an impressive 22.81% since then. We note from Analog Devices Inc.’s average daily trading volume that its 10-day average is 2.75 million shares, with the 3-month average coming to 2.98 million.
Analog Devices Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 30 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 9 recommended ADI as a Hold, whereas 18 deemed it a Buy, and 0 rated it as Underweight. Analog Devices Inc. is expected to report earnings per share of $2.75 for the current quarter.
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Analog Devices Inc. (NASDAQ:ADI) trade information
Instantly ADI has been showing red trend so far today with a performance of -7.98% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 193.14 on Tuesday, 05/23/23 increased the stock’s daily price by 10.46%. The company’s shares are currently up 5.42% year-to-date, but still down -8.00% over the last five days. On the other hand, Analog Devices Inc. (NASDAQ:ADI) is -4.54% down in the 30-day period. We can see from the shorts that 5.28 million shares have been sold at a short interest cover period of 1.84 day(s).
The consensus price target as assigned by Wall Street analysts is $220.10, which translates to bulls needing to increase their stock price by 21.43% from its current value. Analyst projections state that ADI is forecast to be at a low of $175.00 and a high of $251.00. In order for the stock price to hit the forecast high, the stock would need to plunge -45.15% from its current level, while the stock would need to crash -1.2% from its current level to reach the projected low.
Analog Devices Inc. (ADI) estimates and forecasts
Analog Devices Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 8.59 percent over the past six months and at a 11.29% annual growth rate that is well above the industry average of -4.40%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 14.60% in revenue this quarter, and will report an increase of 5.20% in the next quarter. The year-over-year growth rate is expected to be 6.00%, up from the previous year.
Consensus estimates provided by 23 financial analysts predict the company will bring in an average of $3.21 billion in revenue for the current quarter. 23 analysts expect Analog Devices Inc. to make $3.16 billion in revenue for the quarter ending Jul 2023. The company’s sales for the same quarters a year ago were $2.97 billion and $3.11 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 7.90%. Forecasts for the next quarter put sales growth at 1.50%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 18.10%. Analog Devices Inc. earnings are expected to increase by 51.60% in 2023, but the outlook is positive 6.60% per year for the next five years.
Analog Devices Inc.’s next quarterly earnings report is expected to be released on May 24. The annual dividend yield of the stock is 1.83 percent and its annual dividend per share was 3.44. It is important to note, however, that the 1.83% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Analog Devices Inc. (NASDAQ:ADI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.37% of Analog Devices Inc. shares, and 89.61% of them are in the hands of institutional investors. The stock currently has a share float of 89.95%. Analog Devices Inc. stock is held by 1,965 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 9.02% of the shares, which is about 45.63 million shares worth $7.91 billion.
Blackrock Inc., with 8.01% or 40.5 million shares worth $7.02 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 15.48 million shares worth $2.68 billion, making up 3.06% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 11.89 million shares worth around $2.06 billion, which represents about 2.35% of the total shares outstanding.