Analog Devices, Inc. (NASDAQ:ADI) Announces $0.92 Quarterly Dividend

Analog Devices, Inc. (NASDAQ:ADIGet Free Report) announced a quarterly dividend on Wednesday, May 22nd, Zacks reports. Investors of record on Tuesday, June 4th will be paid a dividend of 0.92 per share by the semiconductor company on Monday, June 17th. This represents a $3.68 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Tuesday, June 4th.

Analog Devices has increased its dividend payment by an average of 11.5% annually over the last three years and has raised its dividend every year for the last 22 years. Analog Devices has a payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Analog Devices to earn $7.57 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 48.6%.

Analog Devices Stock Performance

Shares of ADI opened at $242.00 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices has a one year low of $154.99 and a one year high of $242.00. The firm has a market capitalization of $120.01 billion, a P/E ratio of 42.96, a PEG ratio of 5.44 and a beta of 1.14. The business has a fifty day moving average of $199.12 and a 200 day moving average of $192.74.

Analog Devices (NASDAQ:ADIGet Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the company posted $2.83 earnings per share. Analog Devices’s revenue for the quarter was down 33.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Analog Devices will post 5.85 EPS for the current year.

Insider Activity

In other news, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,707 shares of company stock worth $4,874,613. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ADI. Truist Financial boosted their price objective on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday. Oppenheimer boosted their target price on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Cantor Fitzgerald boosted their target price on Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Sanford C. Bernstein upped their price objective on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Read Our Latest Research Report on ADI

About Analog Devices

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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.

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Dividend History for Analog Devices (NASDAQ:ADI)

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