Analog Devices (NASDAQ:ADI) Hits New 12-Month High – Should You Buy?

Analog Devices, Inc. (NASDAQ:ADI)’s stock price hit a new 52-week high on Thursday . The company traded as high as $283.81 and last traded at $283.39, with a volume of 2798103 shares trading hands. The stock had previously closed at $281.57.

Analysts Set New Price Targets

Several equities research analysts have commented on ADI shares. Benchmark reaffirmed a “buy” rating and issued a $285.00 target price on shares of Analog Devices in a research note on Wednesday, November 26th. Stifel Nicolaus set a $280.00 price objective on shares of Analog Devices in a research report on Friday, November 21st. Barclays lifted their target price on Analog Devices from $185.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, August 21st. BNP Paribas assumed coverage on Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 target price for the company. Finally, BNP Paribas Exane assumed coverage on Analog Devices in a research report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $283.61.

Analog Devices Price Performance

The stock has a market cap of $136.77 billion, a P/E ratio of 61.25, a PEG ratio of 1.57 and a beta of 1.04. The company has a 50 day simple moving average of $246.14 and a 200 day simple moving average of $240.13. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results 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 company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period last year, the business earned $1.67 EPS. Sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.4%. Analog Devices’s payout ratio is 86.84%.

Insider Buying and Selling at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the transaction, the director directly owned 142,571 shares of the company’s stock, valued at approximately $32,821,269.91. This represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the transaction, the director owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. This represents a 16.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 35,419 shares of company stock valued at $8,791,598. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Institutional investors have recently bought and sold shares of the business. Howard Hughes Medical Institute acquired a new position in shares of Analog Devices during the 2nd quarter worth approximately $25,000. Activest Wealth Management increased its holdings in shares of Analog Devices by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. RMG Wealth Management LLC bought a new position in shares of Analog Devices in the second quarter valued at about $26,000. Clayton Financial Group LLC acquired a new stake in shares of Analog Devices during the 3rd quarter worth about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of Analog Devices during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

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.