Analog Devices, Inc. (NASDAQ:ADI) declared a quarterly dividend on Thursday, May 21st, Wall Street Journal reports. Stockholders of record on Friday, May 29th will be given a dividend of 0.62 per share by the semiconductor company on Tuesday, June 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, May 28th.
Analog Devices has raised its dividend by an average of 11.3% per year over the last three years and has raised its dividend every year for the last 10 years. Analog Devices has a dividend payout ratio of 58.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Analog Devices to earn $5.05 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 49.1%.
NASDAQ ADI opened at $111.06 on Friday. The firm has a market cap of $40.90 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $102.33 and a 200-day moving average price of $109.51. Analog Devices has a twelve month low of $79.07 and a twelve month high of $127.30.
A number of research firms recently commented on ADI. Oppenheimer reiterated a “buy” rating and issued a $140.00 target price on shares of Analog Devices in a research report on Thursday, May 14th. Zacks Investment Research downgraded Analog Devices from a “hold” rating to a “sell” rating and set a $109.00 target price on the stock. in a research report on Thursday, May 14th. Bank of America boosted their target price on Analog Devices from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday. Raymond James boosted their target price on Analog Devices from $100.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Analog Devices from $134.00 to $119.00 and set a “neutral” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $121.70.
In other news, SVP Gregory N. Henderson sold 883 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $100.00, for a total value of $88,300.00. Following the sale, the senior vice president now directly owns 5,826 shares in the company, valued at $582,600. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce R. Evans purchased 2,631 shares of Analog Devices stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average price of $90.32 per share, for a total transaction of $237,631.92. Over the last quarter, insiders sold 12,574 shares of company stock worth $1,387,634. Company insiders own 0.42% of the company’s stock.
Analog Devices Company Profile
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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