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

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Shareholders of record on Wednesday, June 4th will be given a dividend of 0.99 per share by the semiconductor company on Wednesday, June 18th. This represents a $3.96 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, June 4th.

Analog Devices has increased its dividend payment by an average of 10.1% per year over the last three years and has increased its dividend every year for the last 23 years. Analog Devices has a dividend payout ratio of 44.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Analog Devices to earn $8.59 per share next year, which means the company should continue to be able to cover its $3.96 annual dividend with an expected future payout ratio of 46.1%.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded up $6.67 on Tuesday, hitting $217.14. The company had a trading volume of 1,541,979 shares, compared to its average volume of 3,509,758. Analog Devices has a 1-year low of $158.65 and a 1-year high of $247.10. The stock has a market cap of $107.69 billion, a price-to-earnings ratio of 69.09, a P/E/G ratio of 2.85 and a beta of 0.98. The stock has a 50 day moving average price of $197.67 and a 200 day moving average price of $210.03. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the company earned $1.40 earnings per share. The company's quarterly revenue was up 22.3% on a year-over-year basis. Analysts expect that Analog Devices will post 7.14 EPS for the current year.

Analog Devices declared that its board has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the sale, the director now owns 180,071 shares of the company's stock, valued at approximately $35,265,104.64. This represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,934 shares of company stock valued at $8,735,156. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Analog Devices

A hedge fund recently raised its stake in Analog Devices stock. Brighton Jones LLC raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 39.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,867 shares of the semiconductor company's stock after purchasing an additional 529 shares during the quarter. Brighton Jones LLC's holdings in Analog Devices were worth $397,000 as of its most recent SEC filing. Institutional investors own 86.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Friday. Lake Street Capital assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Wall Street Zen upgraded shares of Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday. UBS Group decreased their price target on shares of Analog Devices from $295.00 to $285.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Oppenheimer increased their price objective on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and a consensus target price of $248.63.

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.