Analog Devices, Inc. Plans Quarterly Dividend of $0.37 (ADI)
Analog Devices (NYSE:ADI) announced a quarterly dividend on Tuesday, August 26th, StockRatingsNetwork.com reports. Stockholders of record on Friday, September 5th will be paid a dividend of 0.37 per share on Wednesday, September 17th. This represents a $1.48 annualized dividend and a dividend yield of 2.83%.
A number of analysts have recently weighed in on ADI shares. Analysts at B. Riley reiterated a “buy” rating on shares of Analog Devices in a research note on Wednesday, July 30th. They now have a $62.00 price target on the stock, up previously from $58.00. On the ratings front, analysts at Stifel Nicolaus initiated coverage on shares of Analog Devices in a research note on Friday, June 27th. They set a “buy” rating and a $66.00 price target on the stock. Finally, analysts at Sterne Agee initiated coverage on shares of Analog Devices in a research note on Friday, June 27th. They set a “buy” rating on the stock. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $57.54.
Shares of Analog Devices (NYSE:ADI) traded up 0.54% during mid-day trading on Tuesday, hitting $52.21. 2,658,335 shares of the company’s stock traded hands. Analog Devices has a 52 week low of $45.28 and a 52 week high of $56.18. The stock has a 50-day moving average of $51.78 and a 200-day moving average of $52.25. The company has a market cap of $16.402 billion and a P/E ratio of 23.00.
Analog Devices (NYSE:ADI) last released its earnings data on Tuesday, August 26th. The company reported $0.63 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.63. The company had revenue of $728.00 million for the quarter, compared to the consensus estimate of $716.32 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts expect that Analog Devices will post $2.38 EPS for the current fiscal year.
Analog Devices, Inc (NYSE:ADI) is engaged in the design, manufacture and marketing of a range of analog, mixed-signal and digital signal processing integrated circuits (ICs).
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