Analog Devices (NASDAQ:ADI) Reaches New 12-Month High at $205.07

Shares of Analog Devices, Inc. (NASDAQ:ADI) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $205.07 and last traded at $204.75, with a volume of 155348 shares traded. The stock had previously closed at $203.32.

Analyst Ratings Changes

A number of research analysts have commented on the stock. KeyCorp increased 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. The Goldman Sachs Group upped their price target on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Truist Financial reduced their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a research note on Thursday, January 18th. Finally, Barclays raised their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Stock Up 0.8 %

The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The company has a market cap of $101.68 billion, a PE ratio of 36.62, a PEG ratio of 5.01 and a beta of 1.14. The company’s fifty day moving average is $194.56 and its 200-day moving average is $188.62.

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is presently 65.83%.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,057,745.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,707 shares of company stock worth $4,874,613. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Analog Devices during the fourth quarter worth approximately $1,225,227,000. Massachusetts Financial Services Co. MA raised its holdings in Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after buying an additional 2,497,696 shares during the period. Nordea Investment Management AB boosted its stake in Analog Devices by 639.7% during the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after buying an additional 1,486,180 shares during the period. International Assets Investment Management LLC increased its position in Analog Devices by 20,527.8% during the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock valued at $1,857,060,000 after acquiring an additional 930,732 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Analog Devices by 27.7% in the first quarter. Van ECK Associates Corp now owns 3,691,023 shares of the semiconductor company’s stock valued at $730,047,000 after acquiring an additional 800,199 shares during the period. Hedge funds and other institutional investors 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.