Analog Devices, Inc. (NASDAQ:ADI) Announces Quarterly Dividend of $0.99

Analog Devices, Inc. (NASDAQ:ADI) declared a quarterly dividend on Tuesday, February 18th,RTT News reports. Stockholders 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 dividend yield of 1.80%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92.

Analog Devices has increased its dividend by an average of 10.1% per year over the last three years and has increased its dividend annually for the last 22 consecutive years. Analog Devices has a dividend payout ratio of 41.8% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Analog Devices stock traded up $5.61 during mid-day trading on Tuesday, hitting $220.22. 7,391,946 shares of the company traded hands, compared to its average volume of 3,475,683. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices has a one year low of $182.57 and a one year high of $244.14. The stock has a market cap of $109.25 billion, a price-to-earnings ratio of 66.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. The stock has a fifty day moving average price of $213.95 and a 200-day moving average price of $219.56.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm’s revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.01 EPS. On average, equities analysts predict that Analog Devices will post 7.09 earnings per share for the current fiscal year.

Insider Activity at Analog Devices

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

Analyst Ratings Changes

ADI has been the topic of several recent research reports. Benchmark started coverage on Analog Devices in a research report on Friday. They set a “buy” rating and a $245.00 price objective on the stock. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Morgan Stanley reduced their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, Barclays decreased their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $248.52.

Analog Devices Company Profile

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.