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

Analog Devices, Inc. (NASDAQ:ADI) announced a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Investors 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 raised its dividend payment by an average of 11.5% 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 49.8% meaning its dividend is sufficiently covered by earnings. Equities research 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

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ADI shares. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday. Truist Financial dropped their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,995 shares of company stock valued at $25,116,338 in the last quarter. Insiders own 0.31% 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.