Analog Devices, Inc. (NASDAQ:ADI) announced a quarterly dividend on Thursday, May 21st, Wall Street Journal reports. Investors of record on Friday, May 29th will be paid a dividend of 0.62 per share by the semiconductor company on Tuesday, June 9th. This represents a $2.48 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, May 28th.
Analog Devices has raised its dividend payment by an average of 11.3% annually over the last three years and has increased its dividend every year for the last 10 years. Analog Devices has a payout ratio of 58.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Analog Devices to earn $5.07 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 48.9%.
Shares of ADI stock opened at $110.76 on Friday. The company has a market capitalization of $42.19 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 2.13 and a beta of 1.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.75 and a current ratio of 1.30. The company has a 50-day simple moving average of $101.90 and a 200 day simple moving average of $109.48. Analog Devices has a 52 week low of $79.07 and a 52 week high of $127.30.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 20th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.03. Analog Devices had a net margin of 20.05% and a return on equity of 14.51%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $1.36 EPS. The business’s revenue was down 13.7% on a year-over-year basis. Sell-side analysts forecast that Analog Devices will post 4.3 EPS for the current year.
Several analysts have weighed in on ADI shares. Barclays dropped their price objective on shares of Analog Devices from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Credit Suisse Group reiterated a “buy” rating and issued a $130.00 price objective on shares of Analog Devices in a research note on Thursday. Oppenheimer reiterated a “buy” rating and issued a $140.00 price objective on shares of Analog Devices in a research note on Thursday, May 14th. Morgan Stanley lifted their price objective on shares of Analog Devices from $95.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Raymond James lifted their price objective on shares of Analog Devices from $100.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $121.70.
In related news, SVP Gregory N. Henderson sold 1,528 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $110.93, for a total transaction of $169,501.04. Following the completion of the transaction, the senior vice president now directly owns 7,354 shares in the company, valued at approximately $815,779.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Gregory N. Henderson sold 883 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $100.00, for a total transaction of $88,300.00. Following the transaction, the senior vice president now owns 5,826 shares of the company’s stock, valued at $582,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,114 shares of company stock valued at $428,101. 0.42% of the stock is owned by corporate insiders.
Analog Devices Company Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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