Analog Devices (NASDAQ:ADI) Sets New 12-Month High – What’s Next?

Analog Devices, Inc. (NASDAQ:ADI) shares hit a new 52-week high on Tuesday . The stock traded as high as $321.23 and last traded at $314.7030, with a volume of 190628 shares. The stock had previously closed at $316.86.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ADI shares. KeyCorp boosted their target price on Analog Devices from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Morgan Stanley reissued an “overweight” rating and set a $314.00 price target on shares of Analog Devices in a report on Friday, January 16th. BNP Paribas Exane began coverage on Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective on the stock. Robert W. Baird raised their price target on Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, November 26th. Finally, UBS Group set a $350.00 price objective on Analog Devices in a report on Wednesday, January 21st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.04.

Analog Devices Stock Performance

The stock has a market cap of $153.98 billion, a price-to-earnings ratio of 69.10, a price-to-earnings-growth ratio of 1.69 and a beta of 1.03. The company’s 50-day simple moving average is $285.62 and its 200-day simple moving average is $255.09. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company’s revenue was up 25.9% compared to the same quarter last year. During the same period last year, the company posted $1.67 EPS. Analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio is currently 86.84%.

Insider Activity

In other Analog Devices news, CAO Michael Sondel sold 8,169 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the sale, the chief accounting officer owned 18,913 shares in the company, valued at $5,258,381.39. This represents a 30.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $297.27, for a total transaction of $928,968.75. Following the transaction, the director owned 130,071 shares in the company, valued at approximately $38,666,206.17. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 40,419 shares of company stock worth $11,259,655. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ADI. Vanguard Group Inc. raised its position in shares of Analog Devices by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 50,893,276 shares of the semiconductor company’s stock valued at $13,802,256,000 after purchasing an additional 503,970 shares during the period. State Street Corp grew its stake in Analog Devices by 0.4% in the 3rd quarter. State Street Corp now owns 23,399,046 shares of the semiconductor company’s stock valued at $5,749,146,000 after buying an additional 81,790 shares during the last quarter. Geode Capital Management LLC raised its holdings in Analog Devices by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after acquiring an additional 633,425 shares during the period. Norges Bank acquired a new position in Analog Devices during the 2nd quarter worth $1,803,377,000. Finally, Ameriprise Financial Inc. boosted its holdings in Analog Devices by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock valued at $1,506,448,000 after acquiring an additional 375,207 shares during the period. 86.81% of the stock is owned by institutional investors.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.