Analog Devices, Inc. (NASDAQ:ADI – Get Rating) announced a quarterly dividend on Tuesday, November 22nd, RTT News reports. Shareholders of record on Monday, December 5th will be paid a dividend of 0.76 per share by the semiconductor company on Thursday, December 15th. This represents a $3.04 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, December 2nd.
Analog Devices has increased its dividend by an average of 12.9% annually over the last three years and has increased its dividend annually for the last 19 consecutive years. Analog Devices has a payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Analog Devices to earn $9.41 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 32.3%.
Analog Devices Price Performance
Shares of NASDAQ:ADI opened at $169.20 on Thursday. The company’s fifty day moving average is $147.66 and its two-hundred day moving average is $154.99. The company has a quick ratio of 1.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.17. Analog Devices has a 12-month low of $133.48 and a 12-month high of $188.20. The company has a market cap of $87.03 billion, a P/E ratio of 46.74, a price-to-earnings-growth ratio of 1.38 and a beta of 1.11.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on ADI shares. Raymond James lowered their price target on shares of Analog Devices from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, August 18th. Sanford C. Bernstein boosted their price target on shares of Analog Devices from $190.00 to $200.00 in a report on Wednesday. Barclays upped their price objective on shares of Analog Devices from $140.00 to $145.00 and gave the stock an “equal weight” rating in a report on Wednesday. Credit Suisse Group reiterated a “neutral” rating and issued a $185.00 price objective on shares of Analog Devices in a report on Wednesday, November 16th. Finally, Cowen upped their price objective on shares of Analog Devices from $180.00 to $190.00 in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $191.65.
In related news, Director Tunc Doluca sold 1,700 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $160.00, for a total value of $272,000.00. Following the completion of the transaction, the director now owns 68,657 shares of the company’s stock, valued at $10,985,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. KB Financial Partners LLC grew its stake in Analog Devices by 10.7% during the first quarter. KB Financial Partners LLC now owns 2,665 shares of the semiconductor company’s stock worth $440,000 after buying an additional 258 shares during the last quarter. First Western Trust Bank bought a new stake in Analog Devices during the first quarter worth about $400,000. West Family Investments Inc. grew its stake in Analog Devices by 30.6% during the first quarter. West Family Investments Inc. now owns 2,339 shares of the semiconductor company’s stock worth $386,000 after buying an additional 548 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Analog Devices by 11.9% during the first quarter. Brown Brothers Harriman & Co. now owns 2,291 shares of the semiconductor company’s stock worth $378,000 after buying an additional 243 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Analog Devices during the first quarter valued at approximately $326,000. Institutional investors and hedge funds own 85.22% of the company’s stock.
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 provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.
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