Analog Devices, Inc.’s latest quarterly balance sheet for the period ending July 2023, reported total assets of $49.33 Billion and total liabilities of $13.44 Billion. The debt-to-assets ratio is at 27.25%, which is a positive sign for ADI stock.
The latest quarterly earnings report for the period ending July 2023, displayed a revenue of $3.08 Billion, with a net income of $877.02 Million, and a profit margin of 28.51%. This quarter, the reported revenue missed the analysts estimate by $24.042 Million (0.78%). The next quarter’s revenue is estimated to be 2.704 Billion.
The ADI stock’s dividend yield for the TTM is 1.84% and its last dividend payment was 0.86 per share. The last ex-dividend date was September 1st, 2023 and its payout ratio is 44.02%.
The Analog Devices, Inc. stock has been gradually increasing its dividend amount every year and the dividend amount in the last five years grew from $1.89 to $2.97 per share. This shows that ADI stock is strong and reliable in terms of its fundamentals and financials and has a long-term potential for growth in its share price.
The ADI stock has been on an upward trend since March 2020, starting from $79 support and making higher highs and lows until it reached $200 by August 1st, 2023. However, the high level was unsustainable for the buyers and the ADI price declined due to shareholders cashing out. At press time, the stock is trading at $176.49.
The ADI stock has a float of 503.926 Million shares and a market cap of $89.237 Billion. The Analog Devices, Inc. stock’s average volume for the last 10 days is 3.195 Million and its current volume is 2.782 Million. The ADI stock has a CMP of $176.41 and an intraday gain of 2.08%.
At the time of publishing, the major EMA’s in Analog Devices, Inc. (NASDAQ: ADI) is bearish and MACD shows a bearish cross on the charts with stagnant width in the histogram and RSI is at 46.49 taking support from 14 SMA.
However, the stock ratings for Analog Devices stock are positive and highly recommended based on 31 analysts who have evaluated it in the last three months. The 1-year price forecasts for Analog Devices stock by 24 analysts range from $175 to $220, with a high potential for growth.
ADI Stock Price Technical Analysis in 1-D Timeframe
Analog Devices, Inc. (NASDAQ: ADI) is experiencing a decline from $200, the current market price of ADI stock is $176.41 and trying to sustain at current levels.
The stock may continue to fall further if it breaks below the current levels and breaks below $160, which could lead to a target of $150. On the other hand, if Analog Devices stock manages to reverse the trend and gain strong buying momentum It could rise above $180, triggering a rally above $190 or higher.
Analog Devices stock fell from ATH of $200 to $176 after earnings and dividends as it invited some profit bookings. Analysts are bullish on long-term growth and dividend increase. Stock may rebound above $180 or drop below $160 depending on the trend reversal. The technical indicators are bearish.
Support levels: $160 and $150
Resistance levels: $180 and $190
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