Analog Devices, Inc. Declares Quarterly Dividend of $0.92 (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI) declared a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Shareholders of record on Monday, December 9th will be given a dividend of 0.92 per share by the semiconductor company on Friday, December 20th. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, December 9th.

Analog Devices has increased its dividend payment by an average of 11.5% per year over the last three years and has increased its dividend every year for the last 22 years. Analog Devices has a dividend payout ratio of 49.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Analog Devices to earn $7.47 per share next year, which means the company should continue to be able to cover its $3.68 annual dividend with an expected future payout ratio of 49.3%.

Analog Devices Stock Performance

Analog Devices stock opened at $217.17 on Thursday. Analog Devices has a fifty-two week low of $179.63 and a fifty-two week high of $244.14. The firm’s fifty day moving average price is $224.64 and its 200-day moving average price is $225.86. The stock has a market cap of $107.82 billion, a P/E ratio of 65.22, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analysts Set New Price Targets

ADI has been the subject of a number of recent research reports. Oppenheimer restated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Wednesday. Wells Fargo & Company began coverage on shares of Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price on the stock. Bank of America decreased their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, TD Cowen dropped their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $11,672,108.91. The trade was a 16.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,000 shares of company stock worth $24,883,200. 0.31% of the stock is owned by insiders.

About Analog Devices

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.