Analog Devices (NASDAQ:ADI) Hits New 52-Week High at $204.01

Shares of Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $204.01 and last traded at $203.77, with a volume of 3289978 shares. The stock had previously closed at $196.69.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald restated a "neutral" rating and set a $205.00 target price on shares of Analog Devices in a research report on Monday, March 4th. Edward Jones upgraded Analog Devices from a "hold" rating to a "buy" rating in a research report on Friday, December 22nd. The Goldman Sachs Group boosted their target price on Analog Devices from $191.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, February 22nd. Morgan Stanley restated an "overweight" rating and set a $212.00 target price (down previously from $219.00) on shares of Analog Devices in a research report on Thursday, February 22nd. Finally, Wolfe Research upgraded Analog Devices from a "peer perform" rating to an "outperform" rating and set a $225.00 target price for the company in a research report on Thursday, January 18th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Analog Devices has a consensus rating of "Moderate Buy" and a consensus target price of $206.26.

Analog Devices Stock Up 3.8 %

The firm has a fifty day simple moving average of $193.03 and a 200-day simple moving average of $185.76. The company has a market capitalization of $101.23 billion, a P/E ratio of 36.52, a P/E/G ratio of 4.89 and a beta of 1.17. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices's revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.75 earnings per share. On average, equities research analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This is a boost from Analog Devices's previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Monday, March 4th. Analog Devices's dividend payout ratio is currently 65.83%.

Insider Transactions at Analog Devices

In other news, EVP Vivek Jain sold 3,479 shares of the company's stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company's stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company's stock, valued at $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company's stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock valued at $4,825,113 over the last three months. Company insiders own 0.31% of the company's stock.

Institutional Trading of Analog Devices

Hedge funds have recently made changes to their positions in the business. Prime Capital Investment Advisors LLC increased its stake in shares of Analog Devices by 37.5% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company's stock worth $1,612,000 after purchasing an additional 2,215 shares during the period. L. Roy Papp & Associates LLP increased its stake in shares of Analog Devices by 2.0% during the fourth quarter. L. Roy Papp & Associates LLP now owns 37,339 shares of the semiconductor company's stock worth $7,414,000 after purchasing an additional 717 shares during the period. Penobscot Investment Management Company Inc. increased its stake in shares of Analog Devices by 7.0% during the third quarter. Penobscot Investment Management Company Inc. now owns 10,089 shares of the semiconductor company's stock worth $1,766,000 after purchasing an additional 658 shares during the period. Gateway Investment Advisers LLC increased its stake in shares of Analog Devices by 5.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 145,667 shares of the semiconductor company's stock worth $28,924,000 after purchasing an additional 7,021 shares during the period. Finally, Ritholtz Wealth Management increased its stake in shares of Analog Devices by 2.5% during the fourth quarter. Ritholtz Wealth Management now owns 4,836 shares of the semiconductor company's stock worth $960,000 after purchasing an additional 120 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

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.