Analog Devices, Inc. (ADI) To Go Ex-Dividend on March 4th

Analog Devices, Inc. (NASDAQ:ADI) announced a quarterly dividend on Tuesday, February 18th, RTT News reports. Shareholders of record on Tuesday, March 4th will be paid a dividend of 0.99 per share by the semiconductor company on Monday, March 17th. This represents a $3.96 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92.

Analog Devices has raised its dividend payment by an average of 10.1% per year over the last three years and has raised its dividend every year for the last 23 years. Analog Devices has a payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Analog Devices to earn $8.59 per share next year, which means the company should continue to be able to cover its $3.96 annual dividend with an expected future payout ratio of 46.1%.

Analog Devices Price Performance

Shares of ADI stock opened at $229.82 on Friday. The firm has a market capitalization of $113.99 billion, a price-to-earnings ratio of 73.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. Analog Devices has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average of $217.55 and a 200-day moving average of $221.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.73 EPS. On average, equities research analysts forecast that Analog Devices will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ADI shares. Piper Sandler cut their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley lifted their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Truist Financial boosted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, TD Cowen lowered their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $255.41.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

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.