Analog Devices (NASDAQ:ADI) Sets New 52-Week High – Time to Buy?

Analog Devices, Inc. (NASDAQ:ADI) reached a new 52-week high on Tuesday . The stock traded as high as $321.23 and last traded at $314.7030, with a volume of 190628 shares. The stock had previously closed at $316.86.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ADI shares. Barclays set a $315.00 price target on Analog Devices in a research report on Thursday, January 15th. Sanford C. Bernstein reiterated a “market perform” rating and set a $270.00 target price on shares of Analog Devices in a research note on Wednesday, November 26th. Wall Street Zen upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $300.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Finally, Susquehanna lifted their target price on Analog Devices from $350.00 to $360.00 and gave the stock a “positive” rating in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $312.04.

Analog Devices Stock Down 0.5%

The stock has a market capitalization of $153.98 billion, a P/E ratio of 69.10, a P/E/G ratio of 1.69 and a beta of 1.03. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average is $285.62 and its 200-day moving average is $255.09.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.During the same period last year, the firm posted $1.67 EPS. The business’s revenue was up 25.9% on a year-over-year basis. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a $0.99 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.3%. Analog Devices’s payout ratio is currently 86.84%.

Insider Buying and Selling at Analog Devices

In related news, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the sale, the chief accounting officer owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This trade represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $297.27, for a total value of $928,968.75. Following the transaction, the director directly owned 130,071 shares in the company, valued at approximately $38,666,206.17. This represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 40,419 shares of company stock valued at $11,259,655 over the last three months. Insiders own 0.33% of the company’s stock.

Institutional Trading of Analog Devices

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after buying an additional 529 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Analog Devices by 36.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company’s stock valued at $417,000 after purchasing an additional 464 shares during the period. Hilltop National Bank acquired a new stake in shares of Analog Devices during the second quarter worth $105,000. Simplicity Wealth LLC grew its stake in shares of Analog Devices by 194.7% during the second quarter. Simplicity Wealth LLC now owns 3,757 shares of the semiconductor company’s stock worth $894,000 after purchasing an additional 2,482 shares during the period. Finally, Merit Financial Group LLC lifted its stake in Analog Devices by 58.3% in the second quarter. Merit Financial Group LLC now owns 14,769 shares of the semiconductor company’s stock valued at $3,515,000 after buying an additional 5,438 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.