Analog Devices, Inc. Announces Quarterly Dividend of $0.92 (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI) announced a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Shareholders of record on Monday, December 9th will be paid a dividend of 0.92 per share by the semiconductor company on Friday, December 20th. This represents a $3.68 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, December 9th.

Analog Devices has increased its dividend payment by an average of 11.5% annually over the last three years and has increased its dividend annually for the last 22 consecutive years. Analog Devices has a dividend payout ratio of 49.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Analog Devices to earn $7.47 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 49.3%.

Analog Devices Price Performance

Analog Devices stock traded down $1.88 during trading hours on Wednesday, hitting $217.17. 2,679,992 shares of the stock were exchanged, compared to its average volume of 3,238,302. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The stock has a market capitalization of $107.82 billion, a P/E ratio of 64.64, a P/E/G ratio of 3.15 and a beta of 1.08. Analog Devices has a 12 month low of $179.63 and a 12 month high of $244.14. The business’s 50-day moving average is $224.75 and its two-hundred day moving average is $225.92.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Truist Financial decreased their price target on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, TD Cowen decreased their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $249.33.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,995 shares of company stock worth $25,116,338 over the last ninety days. Company insiders own 0.31% 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.