Analog Devices (NASDAQ:ADI) Reaches New 1-Year High at $204.20

Analog Devices, Inc. (NASDAQ:ADI) reached a new 52-week high on Tuesday . The stock traded as high as $204.20 and last traded at $203.50, with a volume of 201962 shares changing hands. The stock had previously closed at $203.90.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group upped their target price on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Evercore ISI initiated coverage on Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price objective for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Oppenheimer reissued an “outperform” rating and set a $215.00 target price on shares of Analog Devices in a report on Thursday, February 22nd. Finally, KeyCorp upped their price target on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.17.

Analog Devices Price Performance

The stock has a market capitalization of $96.15 billion, a P/E ratio of 34.69, a PEG ratio of 5.12 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The business has a fifty day simple moving average of $193.99 and a 200-day simple moving average of $187.91.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm earned $2.75 earnings per share. Analog Devices’s revenue was down 22.7% on a year-over-year basis. Sell-side analysts expect that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a dividend of $0.92 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio is 65.83%.

Insider Buying and Selling at Analog Devices

In related news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,707 shares of company stock valued at $2,904,013. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $1,225,227,000. Massachusetts Financial Services Co. MA lifted its holdings in Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after acquiring an additional 2,497,696 shares during the period. Nordea Investment Management AB boosted its position in Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after purchasing an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC grew its stake in Analog Devices by 20,527.8% in the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock valued at $1,857,060,000 after purchasing an additional 930,732 shares during the period. Finally, Van ECK Associates Corp grew its stake in Analog Devices by 27.7% in the 1st quarter. Van ECK Associates Corp now owns 3,691,023 shares of the semiconductor company’s stock valued at $730,047,000 after purchasing an additional 800,199 shares during the period. Institutional investors own 86.81% of the company’s stock.

About Analog Devices

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.