Analog Devices, Inc. (ADI) to Issue Quarterly Dividend of $0.99 on March 17th

Analog Devices, Inc. (NASDAQ:ADI) declared a quarterly dividend on Tuesday, February 18th,RTT News reports. Shareholders of record on Tuesday, March 4th will be paid a dividend of 0.99 per share by the semiconductor company on Monday, March 17th. This represents a $3.96 annualized dividend and a yield of 1.64%. The ex-dividend date is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92.

Analog Devices has raised its dividend payment by an average of 10.1% per year over the last three years and has raised its dividend annually for the last 22 consecutive years. Analog Devices has a payout ratio of 41.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Analog Devices to earn $8.46 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 43.5%.

Analog Devices Stock Performance

NASDAQ:ADI opened at $241.66 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The stock has a market cap of $119.89 billion, a PE ratio of 73.45, a price-to-earnings-growth ratio of 2.46 and a beta of 1.04. The firm’s fifty day simple moving average is $214.54 and its 200-day simple moving average is $219.80.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the firm earned $1.73 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts expect that Analog Devices will post 7.09 earnings per share for the current fiscal year.

Analog Devices declared that its board has initiated a share buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ADI shares. Wells Fargo & Company started coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price on the stock. Benchmark started coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating and a $245.00 target price on the stock. TD Cowen reduced their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, Morgan Stanley dropped their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $248.52.

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.