Analog Devices, Inc. (NASDAQ:ADI) Declares Quarterly Dividend of $0.86

Analog Devices, Inc. (NASDAQ:ADI – Get Rating) announced a quarterly dividend on Wednesday, May 24th, Zacks reports. Stockholders of record on Monday, June 5th will be given a dividend of 0.86 per share by the semiconductor company on Wednesday, June 14th. This represents a $3.44 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, June 2nd.

Analog Devices has increased its dividend payment by an average of 12.1% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Analog Devices has a dividend payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Analog Devices to earn $10.90 per share next year, which means the company should continue to be able to cover its $3.44 annual dividend with an expected future payout ratio of 31.6%.

Analog Devices Price Performance

Analog Devices stock opened at $173.20 on Thursday. The stock has a market cap of $87.61 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 1.44 and a beta of 1.15. The company has a fifty day simple moving average of $186.39 and a 200-day simple moving average of $176.83. Analog Devices has a 12-month low of $133.48 and a 12-month high of $198.24. The company has a current ratio of 2.12, a quick ratio of 1.50 and a debt-to-equity ratio of 0.18.

Analog Devices (NASDAQ:ADI – Get Rating) last announced its quarterly earnings results on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $0.08. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the previous year, the company earned $2.40 earnings per share. Analog Devices’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts expect that Analog Devices will post 10.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on ADI shares. Sanford C. Bernstein dropped their price objective on shares of Analog Devices from $220.00 to $210.00 in a research note on Thursday. Truist Financial dropped their price target on shares of Analog Devices from $251.00 to $213.00 in a research note on Thursday. Bank of America boosted their price target on shares of Analog Devices from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, April 4th. Morgan Stanley dropped their price target on shares of Analog Devices from $210.00 to $195.00 in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Analog Devices from $200.00 to $195.00 in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $208.83.

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,495 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $185.44, for a total value of $277,232.80. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,181,438.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the completion of the transaction, the chief financial officer now owns 23,871 shares of the company’s stock, valued at $4,464,115.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Champy sold 1,495 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total transaction of $277,232.80. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,181,438.24. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Analog Devices

Several large investors have recently made changes to their positions in the business. State Street Corp increased its position in shares of Analog Devices by 1.2% in the first quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock worth $4,024,078,000 after acquiring an additional 238,249 shares in the last quarter. Norges Bank acquired a new stake in shares of Analog Devices in the fourth quarter worth $1,040,194,000. Morgan Stanley grew its holdings in Analog Devices by 16.1% during the 4th quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock valued at $982,344,000 after purchasing an additional 830,281 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Analog Devices by 101,479.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock valued at $674,482,000 after purchasing an additional 4,107,895 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Analog Devices by 28.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,215,510 shares of the semiconductor company’s stock valued at $527,440,000 after purchasing an additional 703,708 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analog Devices Company Profile

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.