Analog Devices (NASDAQ:ADI) Reaches New 52-Week High at $204.20

Analog Devices, Inc. (NASDAQ:ADI)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $204.20 and last traded at $203.50, with a volume of 201962 shares traded. The stock had previously closed at $203.90.

Analyst Ratings Changes

ADI has been the topic of several research reports. Truist Financial dropped their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price target on shares of Analog Devices in a research note on Thursday, February 22nd. Evercore ISI began coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective on the stock. Morgan Stanley restated an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a report on Thursday, April 11th. Finally, Sanford C. Bernstein lowered Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a research report on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Stock Performance

The business’s fifty day moving average price is $193.99 and its 200-day moving average price is $187.91. The stock has a market cap of $96.15 billion, a PE ratio of 34.69, a P/E/G ratio of 5.12 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion for 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 firm’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter last year, the company posted $2.75 earnings per share. 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 disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors 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 1.90%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is 65.83%.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction 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 approximately $10,075,098.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was 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 approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,707 shares of company stock valued at $2,904,013. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ADI. Pinnacle Bancorp Inc. increased its holdings in Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas raised its position in shares of Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares during the period. Silver Oak Securities Incorporated purchased a new position in shares of Analog Devices during the 3rd quarter valued at $29,000. Cetera Trust Company N.A bought a new position in Analog Devices in the 4th quarter worth $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in Analog Devices in the 4th quarter worth $29,000. 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.