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

Analog Devices, Inc. (NASDAQ:ADI) announced a quarterly dividend on Thursday, May 22nd, RTT News reports. Stockholders of record on Wednesday, June 4th will be given a dividend of 0.99 per share by the semiconductor company on Wednesday, June 18th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.78%.

Analog Devices has increased its dividend payment by an average of 10.1% per year over the last three years and has increased its dividend annually for the last 23 consecutive years. Analog Devices has a dividend payout ratio of 44.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Analog Devices to earn $8.59 per share next year, which means the company should continue to be able to cover its $3.96 annual dividend with an expected future payout ratio of 46.1%.

Analog Devices Stock Down 1.0%

ADI opened at $222.22 on Thursday. The company has a market capitalization of $110.22 billion, a P/E ratio of 70.77, a P/E/G ratio of 2.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm’s fifty day moving average price is $197.63 and its two-hundred day moving average price is $210.50. Analog Devices has a fifty-two week low of $158.65 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.16. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. During the same quarter last year, the company posted $1.40 EPS. On average, analysts anticipate that Analog Devices will post 7.14 EPS for the current year.

Wall Street Analyst Weigh In

ADI has been the subject of several analyst reports. Truist Financial raised their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Citigroup boosted their target price on shares of Analog Devices from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley set a $214.00 target price on shares of Analog Devices in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.35.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. The trade was a 7.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,934 shares of company stock worth $8,735,156. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Analog Devices stock. Brighton Jones LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 39.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,867 shares of the semiconductor company’s stock after purchasing an additional 529 shares during the period. Brighton Jones LLC’s holdings in Analog Devices were worth $397,000 at the end of the most recent quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes 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 stock is undervalued.

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.