Analog Devices, Inc. (NASDAQ:ADI) Announces Quarterly Dividend of $0.99

Analog Devices, Inc. (NASDAQ:ADI) declared a quarterly dividend on Tuesday, February 18th,RTT News reports. Shareholders of record on Tuesday, March 4th will be given a dividend of 0.99 per share by the semiconductor company on Monday, March 17th. This represents a $3.96 annualized dividend and a dividend yield of 1.80%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92.

Analog Devices has raised its dividend by an average of 10.1% annually over the last three years and has increased its dividend every year for the last 22 years. Analog Devices has a payout ratio of 41.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Analog Devices to earn $8.46 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 43.5%.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $220.22 on Wednesday. The stock’s fifty day simple moving average is $214.04 and its 200 day simple moving average is $219.65. The stock has a market capitalization of $109.25 billion, a price-to-earnings ratio of 66.94, a PEG ratio of 2.46 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices has a 52-week low of $182.57 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. As a group, sell-side analysts forecast that Analog Devices will post 7.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADI has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Barclays dropped their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. TD Cowen lowered their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $248.52.

Analog Devices declared that its board has approved a share repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by 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.