Analog Devices, Inc. (NASDAQ:ADI) Declares Quarterly Dividend of $0.99

Analog Devices, Inc. (NASDAQ:ADI) announced a quarterly dividend on Tuesday, February 18th,RTT News reports. Investors 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 dividend on an annualized basis and a yield of 1.80%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92.

Analog Devices has increased its dividend by an average of 10.1% per year over the last three years and has increased its dividend annually for the last 22 consecutive years. Analog Devices has a dividend payout ratio of 41.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Analog Devices to earn $8.46 per share next year, which means the company should continue to be able to cover its $3.68 annual dividend with an expected future payout ratio of 43.5%.

Analog Devices Stock Up 2.6 %

Shares of NASDAQ ADI opened at $220.22 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $109.25 billion, a PE ratio of 66.94, a price-to-earnings-growth ratio of 2.46 and a beta of 1.04. The firm’s 50-day moving average is $214.04 and its 200-day moving average is $219.65. Analog Devices has a 1 year low of $182.57 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Equities analysts expect that Analog Devices will post 7.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ADI shares. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Barclays reduced their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Piper Sandler cut their price objective 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. Finally, Wells Fargo & Company began coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.52.

Analog Devices announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

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