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

Analog Devices, Inc. (NASDAQ:ADI) announced a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Stockholders of record on Monday, December 9th will be given a dividend of 0.92 per share by the semiconductor company on Friday, December 20th. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, December 9th.

Analog Devices has raised its dividend by an average of 11.5% per year over the last three years and has increased its dividend annually for the last 22 consecutive years. Analog Devices has a payout ratio of 49.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Analog Devices to earn $7.47 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 49.3%.

Analog Devices Trading Down 0.9 %

Shares of NASDAQ ADI opened at $217.17 on Thursday. The stock has a market cap of $107.82 billion, a P/E ratio of 65.22, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08. The firm has a 50 day moving average price of $224.64 and a two-hundred day moving average price of $225.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices has a 52-week low of $179.63 and a 52-week high of $244.14.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent research reports. Piper Sandler cut their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Morgan Stanley dropped their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock valued at $24,883,200 in the last 90 days. 0.31% of the stock is currently owned by company insiders.

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.