Analog Devices, Inc. (NASDAQ:ADI) declared a quarterly dividend on Thursday, May 20th, Wall Street Journal reports. Investors of record on Friday, May 28th will be paid a dividend of 0.69 per share by the semiconductor company on Tuesday, June 8th. This represents a $2.76 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, May 27th.
Analog Devices has increased its dividend payment by 37.8% over the last three years and has raised its dividend annually for the last 1 consecutive years.
Shares of ADI traded up $6.35 during midday trading on Thursday, reaching $159.47. The company had a trading volume of 5,986,497 shares, compared to its average volume of 3,234,401. Analog Devices has a 1-year low of $109.52 and a 1-year high of $164.40. The stock has a market cap of $58.83 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 2.26 and a beta of 1.31. The firm has a 50 day simple moving average of $156.27 and a 200-day simple moving average of $149.85. The company has a quick ratio of 1.40, a current ratio of 1.84 and a debt-to-equity ratio of 0.43.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, May 18th. The semiconductor company reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.09. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Analog Devices’s quarterly revenue was up 26.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Analog Devices will post 5.69 earnings per share for the current fiscal year.
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A number of research analysts have commented on the stock. Zacks Investment Research raised shares of Analog Devices from a “hold” rating to a “buy” rating and set a $172.00 target price for the company in a research note on Monday, February 22nd. Royal Bank of Canada increased their price objective on shares of Analog Devices from $174.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Analog Devices from $160.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday. Argus lifted their price objective on Analog Devices from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 19th. Finally, Piper Sandler increased their target price on Analog Devices from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, February 25th. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $160.35.
In other Analog Devices news, SVP Gregory N. Henderson sold 14,557 shares of Analog Devices stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $154.60, for a total transaction of $2,250,512.20. Following the transaction, the senior vice president now owns 8,910 shares of the company’s stock, valued at $1,377,486. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Martin Cotter sold 1,557 shares of the business’s stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $150.42, for a total value of $234,203.94. Following the completion of the sale, the senior vice president now owns 7,064 shares of the company’s stock, valued at approximately $1,062,566.88. The disclosure for this sale can be found here. Insiders have sold a total of 53,396 shares of company stock worth $8,385,638 over the last quarter. 0.42% of the stock is owned by company insiders.
An institutional investor recently bought a new position in Analog Devices stock. Camden National Bank bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,670 shares of the semiconductor company’s stock, valued at approximately $247,000. 91.90% of the stock is currently owned by hedge funds and other institutional investors.
About Analog Devices
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.
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