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

Analog Devices, Inc. (NASDAQ:ADI) declared a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, December 9th.

Analog Devices has increased its dividend by an average of 11.5% annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Analog Devices has a payout ratio of 51.7% indicating that 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 Price Performance

Shares of ADI opened at $218.20 on Friday. The stock 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. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices has a 1-year low of $180.37 and a 1-year high of $244.14. The firm has a fifty day moving average price of $223.45 and a 200 day moving average price of $226.02.

Analog Devices (NASDAQ:ADI) last issued 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. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the business earned $2.01 earnings per share. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Analog Devices will post 7.15 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Piper Sandler decreased their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Truist Financial lowered their target price on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. TD Cowen decreased their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, 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 note on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the transaction, the chief executive officer now owns 45,326 shares in the company, valued at $10,376,481.18. This trade represents a 18.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,000 shares of company stock worth $22,596,300. 0.31% of the stock is owned by corporate 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.