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Saturday, October 31, 2020

Analog Devices Inc. (NASDAQ:ADI) Recent Earnings Shows Major Concern

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Analog Devices Inc. (ADI) shares are trading at lower $116.65 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $138.40.

To add more color to this target, the company’s high over the last year is $127.39 and the low is $79.07. Over the last 52 weeks, ADI is up 4.40% while the S&P 500 is up 12.00%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, ADI reported a profit of $972.58 million. Analog Devices Inc. also saw revenues increase to $1.46 billion. In addition, ADI has free cash flow of $1.2 billion as of 07-2020. The company’s EBITDA came in at $620.59 million which compares well with its peers.

ADI booked profit margins of 20.10%, its Return on Equity (ROE) is 9.50%, and its Return on Assets is 5.20%. All told, it is clear that, ADI needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ADI has a short ratio of 5.61 and outstanding shares of 368.79M.

Company Outlook

ADI has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at 2.99. Analog Devices Inc. ADI also noted assets of $21.6 billion at the end of the last quarter. Investors should also keep an eye on sector updates as ADI has historically followed its peers on positive news.

All told, Analog Devices Inc. ADI has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ADI represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Analog Devices Inc. ADI is now commanding a market cap of 42.80B and a float of 368.39M. ADI is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ADI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ADI, either long or short, and we have not been compensated for this article.

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