Analog Devices, Inc. (NASDAQ:ADI) Plans Quarterly Dividend of $0.76

Analog Devices, Inc. (NASDAQ:ADIGet Rating) announced a quarterly dividend on Wednesday, August 17th, RTT News reports. Investors of record on Tuesday, August 30th will be paid a dividend of 0.76 per share by the semiconductor company on Thursday, September 8th. This represents a $3.04 annualized dividend and a yield of 1.70%.

Analog Devices has raised its dividend payment by an average of 12.9% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. Analog Devices has a dividend payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Analog Devices to earn $9.89 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 30.7%.

Analog Devices Stock Down 0.5 %

ADI stock opened at $179.04 on Wednesday. Analog Devices has a 52 week low of $138.50 and a 52 week high of $191.95. The company has a market cap of $93.07 billion, a P/E ratio of 50.72, a P/E/G ratio of 1.59 and a beta of 1.13. The company has a current ratio of 1.99, a quick ratio of 1.53 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $158.46 and its 200 day moving average price is $159.52.

Analog Devices (NASDAQ:ADIGet Rating) last released its quarterly earnings data on Wednesday, August 17th. The semiconductor company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. Analog Devices had a net margin of 16.84% and a return on equity of 12.11%. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. The business’s quarterly revenue was up 76.8% compared to the same quarter last year. On average, research analysts expect that Analog Devices will post 9.23 earnings per share for the current fiscal year.

Insider Activity at Analog Devices

In other news, Director Tunc Doluca sold 16,800 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $180.00, for a total value of $3,024,000.00. Following the completion of the transaction, the director now owns 71,157 shares of the company’s stock, valued at $12,808,260. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Analog Devices news, Director Tunc Doluca sold 16,800 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $180.00, for a total transaction of $3,024,000.00. Following the transaction, the director now directly owns 71,157 shares in the company, valued at approximately $12,808,260. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward H. Frank sold 1,435 shares of the firm’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $166.90, for a total value of $239,501.50. Following the completion of the sale, the director now directly owns 2,525 shares of the company’s stock, valued at approximately $421,422.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,036 shares of company stock worth $7,384,291. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Analog Devices

Several large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its stake in shares of Analog Devices by 13.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,713 shares of the semiconductor company’s stock worth $448,000 after purchasing an additional 332 shares in the last quarter. KB Financial Partners LLC grew its position in shares of Analog Devices by 10.7% during the 1st quarter. KB Financial Partners LLC now owns 2,665 shares of the semiconductor company’s stock valued at $440,000 after buying an additional 258 shares during the last quarter. First Western Trust Bank acquired a new position in Analog Devices during the 1st quarter valued at about $400,000. West Family Investments Inc. lifted its stake in shares of Analog Devices by 30.6% in the 1st quarter. West Family Investments Inc. now owns 2,339 shares of the semiconductor company’s stock worth $386,000 after acquiring an additional 548 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Analog Devices by 11.9% in the 1st quarter. Brown Brothers Harriman & Co. now owns 2,291 shares of the semiconductor company’s stock worth $378,000 after purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ADI. Sanford C. Bernstein lifted their target price on shares of Analog Devices to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 19th. The Goldman Sachs Group dropped their target price on shares of Analog Devices from $185.00 to $167.00 in a research report on Friday, July 15th. UBS Group decreased their price objective on shares of Analog Devices to $210.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. Bank of America reduced their price objective on shares of Analog Devices from $220.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. Finally, Morgan Stanley dropped their target price on shares of Analog Devices from $186.00 to $173.00 and set an “equal weight” rating on the stock in a report on Friday, June 10th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $195.79.

About Analog Devices

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

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Dividend History for Analog Devices (NASDAQ:ADI)

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