Analog Devices, Inc. (ADI) to Issue Quarterly Dividend of $0.92 on December 20th

Analog Devices, Inc. (NASDAQ:ADI) announced a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Shareholders of record on Monday, December 9th will be paid a dividend of 0.92 per share by the semiconductor company on Friday, December 20th. This represents a $3.68 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, December 9th.

Analog Devices has raised its dividend 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 51.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Analog Devices to earn $8.52 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 43.2%.

Analog Devices Stock Performance

NASDAQ:ADI opened at $218.20 on Friday. The firm has a market cap of $108.29 billion, a PE ratio of 66.32, a price-to-earnings-growth ratio of 2.52 and a beta of 1.05. Analog Devices has a fifty-two week low of $180.37 and a fifty-two week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The business has a 50 day moving average price of $223.45 and a 200-day moving average price of $226.02.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.01 earnings per share. Equities research analysts predict that Analog Devices will post 7.15 earnings per share for the current year.

Insider Buying and Selling at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the transaction, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This represents a 27.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the sale, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. This trade represents a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,000 shares of company stock worth $22,596,300. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

ADI has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial reduced their price objective on Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. TD Cowen cut their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Morgan Stanley lowered their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

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.