Analog Devices (NASDAQ:ADI) Hits New 1-Year High at $209.75

Analog Devices, Inc. (NASDAQ:ADIGet Free Report)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $209.75 and last traded at $209.44, with a volume of 160873 shares changing hands. The stock had previously closed at $207.19.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of recent research reports. Barclays lifted their target price on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a research note on Thursday, January 18th. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a research note on Thursday, February 22nd. KeyCorp upped their target price on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Finally, Morgan Stanley restated an “overweight” rating and set a $212.00 price objective on shares of Analog Devices in a report on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.38.

Check Out Our Latest Report on Analog Devices

Analog Devices Trading Up 1.8 %

The business’s 50-day simple moving average is $196.39 and its two-hundred day simple moving average is $190.49. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $106.99 billion, a PE ratio of 38.14, a PEG ratio of 5.24 and a beta of 1.14.

Analog Devices (NASDAQ:ADIGet Free Report) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted $2.75 earnings per share. The firm’s revenue was down 22.7% on a year-over-year basis. On average, analysts predict that Analog Devices, Inc. will post 5.85 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.71%. Analog Devices’s payout ratio is 65.83%.

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,707 shares of company stock worth $4,874,613. Insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Hedge funds and other institutional investors have recently modified their holdings of the business. Pinnacle Bancorp Inc. boosted its holdings in shares of Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares during the period. USA Financial Formulas boosted its position in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares during the last quarter. Silver Oak Securities Incorporated acquired a new position in Analog Devices in the third quarter worth approximately $29,000. Cetera Trust Company N.A bought a new position in shares of Analog Devices in the 4th quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC bought a new stake in Analog Devices during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

About Analog Devices

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. 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 consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.

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