Analog Devices (NASDAQ:ADI) Hits New 1-Year High at $204.20

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $204.20 and last traded at $203.50, with a volume of 201962 shares. The stock had previously closed at $203.90.

Analysts Set New Price Targets

A number of analysts have commented on the company. Evercore ISI assumed coverage on Analog Devices in a research report on Tuesday, April 16th. They set an "outperform" rating and a $254.00 target price on the stock. Wolfe Research upgraded Analog Devices from a "peer perform" rating to an "outperform" rating and set a $225.00 target price on the stock in a research report on Thursday, January 18th. Morgan Stanley reissued an "overweight" rating and issued a $212.00 price target on shares of Analog Devices in a report on Thursday, April 11th. The Goldman Sachs Group boosted their price target on Analog Devices from $191.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, February 22nd. Finally, Barclays boosted their price target on Analog Devices from $180.00 to $185.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $208.17.

Analog Devices Price Performance

The stock has a market capitalization of $99.48 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 5.07 and a beta of 1.17. The company has a 50 day moving average of $193.99 and a 200 day moving average of $187.86. 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 results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the business earned $2.75 earnings per share. The firm's quarterly revenue was down 22.7% compared to the same quarter last year. As a group, equities research analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.86. Analog Devices's payout ratio is 65.83%.

Insider Buying and Selling 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 value of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company's stock, valued at $1,134,982.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company's stock, valued at $10,075,098.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value 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 approximately $1,134,982.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,707 shares of company stock valued at $4,825,113. Company insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADI. Massachusetts Financial Services Co. MA raised its stake in Analog Devices by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company's stock valued at $2,991,436,000 after buying an additional 1,197,215 shares in the last quarter. Invesco Ltd. raised its stake in Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company's stock valued at $1,751,475,000 after buying an additional 701,367 shares in the last quarter. Norges Bank acquired a new stake in Analog Devices during the fourth quarter valued at approximately $1,225,227,000. Capital International Investors raised its stake in Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company's stock valued at $895,702,000 after buying an additional 246,799 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its stake in Analog Devices by 9.3% during the fourth quarter. First Eagle Investment Management LLC now owns 3,836,884 shares of the semiconductor company's stock valued at $761,852,000 after buying an additional 327,542 shares in the last quarter. Hedge funds and other institutional investors own 86.81% 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.