Analog Devices (NASDAQ:ADI) Reaches New 12-Month High at $205.07

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $205.07 and last traded at $204.75, with a volume of 155348 shares changing hands. The stock had previously closed at $203.32.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ADI shares. Oppenheimer restated an "outperform" rating and issued a $215.00 target price on shares of Analog Devices in a research note on Thursday, February 22nd. Wolfe Research upgraded shares of Analog Devices from a "peer perform" rating to an "outperform" rating and set a $225.00 price objective on the stock in a research note on Thursday, January 18th. The Goldman Sachs Group increased their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, February 22nd. Barclays increased their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 16th. Finally, KeyCorp increased their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the stock an "overweight" rating in a research note on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of "Moderate Buy" and an average price target of $208.17.

Analog Devices Stock Up 0.1 %

The firm's fifty day moving average price is $194.85 and its 200-day moving average price is $188.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The firm has a market capitalization of $100.95 billion, a P/E ratio of 36.42, a PEG ratio of 5.01 and a beta of 1.14.

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 (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business's revenue was down 22.7% on a year-over-year basis. During the same period last year, the firm posted $2.75 earnings per share. As a group, equities research analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a yield of 1.81%. Analog Devices's dividend payout ratio is currently 65.83%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company's stock, valued at $10,057,745.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company's stock, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,874,613 over the last ninety days. Insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Analog Devices

Several hedge funds have recently made changes to their positions in the company. Verdence Capital Advisors LLC lifted its position in Analog Devices by 8.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 5,639 shares of the semiconductor company's stock worth $987,000 after buying an additional 455 shares in the last quarter. Brighton Jones LLC lifted its position in Analog Devices by 9.2% in the 3rd quarter. Brighton Jones LLC now owns 2,385 shares of the semiconductor company's stock worth $418,000 after buying an additional 200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Analog Devices by 7.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 804,367 shares of the semiconductor company's stock worth $140,837,000 after buying an additional 53,945 shares in the last quarter. Chemung Canal Trust Co. lifted its position in Analog Devices by 7.0% in the 3rd quarter. Chemung Canal Trust Co. now owns 21,432 shares of the semiconductor company's stock worth $3,753,000 after buying an additional 1,411 shares in the last quarter. Finally, Advisor Partners II LLC lifted its position in Analog Devices by 1.0% in the 3rd quarter. Advisor Partners II LLC now owns 18,597 shares of the semiconductor company's stock worth $3,256,000 after buying an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 86.81% 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.