Analog Devices, Inc. will issue a quarterly dividend of $0.92 (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI – Get Free Report) announced a quarterly dividend on Tuesday, May 21, Zacks reports. Shareholders of record on Tuesday, June 4 will receive a dividend of 0.92 per share from the semiconductor company on Monday, June 17. This represents an annual dividend of $3.68 and a yield of 1.57%. The ex-dividend date is Tuesday, June 4.

Analog Devices has increased its dividend by an average of 11.5% per year over the last three years, and has increased its dividend every year for the last 22 years in a row. Analog Devices has a dividend payout ratio of 48.1%, which means the dividend is sufficiently covered by profits. Stock analysts expect Analog Devices to earn $7.57 per share next year, which means the company should still be able to cover its annual dividend of $3.68 with an expected future payout ratio of 48 .6%.

Trading in analog devices decreases by 2.3%

At noon on Thursday, ADI shares fell $5.60 to $234.56. The trading volume of the company’s shares amounted to 5,577,523 shares, while the average trading volume was 3,370,953. The company has a market capitalization of $116.32 billion, a PE ratio of 42.06, a P/E/G ratio of 5, 44 and a beta coefficient of 1.14. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. Analog Devices has a 52-week low of $154.99 and a 52-week high of $241.88. The company’s fifty-day moving average price is $199.12 and its two-hundred-day moving average price is $192.74.

Analog Devices ( NASDAQ:ADI – Get Free Report ) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported EPS of $1.40 for the quarter, which was $0.14 ahead of the consensus estimate of $1.26. The company’s revenue for the quarter was $2.16 billion, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue for the quarter was down 33.8% year-over-year. During the same period last year, the company earned $2.83 per share. On average, analysts expect Analog Devices to post 5.85 earnings per share for the current fiscal year.

Confidential activity at Analog Devices

In related news, VP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In other Analog Devices news, VP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4. The shares were sold at an average price of $197.56, for a total value 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 approximately $1,134,982.20. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through this hyperlink. Additionally, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the completion of the sale, the CEO now directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The announcement of this sale can be found here. Over the last ninety days, insiders have sold 24,707 shares of company stock worth $4,874,613. 0.31% of shares are owned by insiders.

A Wall Street analyst weighs in

Many stock analysts have recently published reports on ADI stock. Sanford C. Bernstein raised their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price target on Analog Devices shares from $220.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen raised their price target on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley raised their price target on shares of Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Susquehanna raised their price target on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday. Seven equity analysts rated the company’s shares with a hold rating, and eighteen rated the company’s shares with a buy rating. Based on data from MarketBeat.com, the consensus rating for the company’s stock is “Moderate Buy” and the average price target is $237.75.

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About analog devices

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Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

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