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

Shares of Analog Devices, Inc. (NASDAQ:ADI) reached a new 52-week high during mid-day trading 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 Analysts Forecast Growth

ADI has been the subject of several research reports. Cantor Fitzgerald restated a “neutral” rating and set a $205.00 price target on shares of Analog Devices in a research report on Monday, March 4th. Truist Financial lowered their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Sanford C. Bernstein lowered Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a report on Thursday, January 4th. Morgan Stanley restated an “overweight” rating and issued a $212.00 target price on shares of Analog Devices in a research note on Thursday, April 11th. Finally, Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a research note on Thursday, January 18th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Stock Performance

The business’s 50-day moving average price is $193.76 and its 200-day moving average price is $187.66. The stock has a market cap of $100.28 billion, a P/E ratio of 36.48, a P/E/G ratio of 5.07 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.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.75 earnings per share. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Insider Activity at Analog Devices

In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at $10,075,098.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,707 shares of company stock valued at $4,825,113. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ADI. Joel Isaacson & Co. LLC raised its position in shares of Analog Devices by 55.9% in the 1st quarter. Joel Isaacson & Co. LLC now owns 2,055 shares of the semiconductor company’s stock worth $406,000 after acquiring an additional 737 shares in the last quarter. Vest Financial LLC lifted its position in Analog Devices by 116.8% during the first quarter. Vest Financial LLC now owns 3,085 shares of the semiconductor company’s stock valued at $610,000 after acquiring an additional 1,662 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in Analog Devices by 19.9% in the first quarter. Perigon Wealth Management LLC now owns 2,547 shares of the semiconductor company’s stock worth $504,000 after purchasing an additional 423 shares during the last quarter. Mayflower Financial Advisors LLC lifted its holdings in shares of Analog Devices by 36.7% during the first quarter. Mayflower Financial Advisors LLC now owns 1,634 shares of the semiconductor company’s stock worth $323,000 after purchasing an additional 439 shares during the period. Finally, OFI Invest Asset Management boosted its holdings in shares of Analog Devices by 12.7% in the 1st quarter. OFI Invest Asset Management now owns 133,502 shares of the semiconductor company’s stock valued at $24,616,000 after acquiring an additional 15,077 shares during the last quarter. 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.