Analog Devices (NASDAQ:ADI) Reaches New 1-Year High at $205.07

Shares of Analog Devices, Inc. (NASDAQ:ADI) hit a new 52-week high on Tuesday . The company traded as high as $205.07 and last traded at $204.75, with a volume of 155348 shares trading hands. The stock had previously closed at $203.32.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a research note on Monday, March 4th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a research note on Thursday, February 22nd. The Goldman Sachs Group boosted their target price on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. KeyCorp increased their price target on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Finally, Barclays lifted their price objective on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.17.

Analog Devices Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The firm has a market cap of $101.68 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 5.01 and a beta of 1.14. The stock has a 50-day moving average price of $194.56 and a 200 day moving average price of $188.62.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the company posted $2.75 earnings per share. The firm’s revenue was down 22.7% compared to the same quarter last year. As a group, equities research analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.92 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a yield of 1.79%. Analog Devices’s dividend payout ratio is 65.83%.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,075,098.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,075,098.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,707 shares of company stock valued at $4,874,613. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Large investors have recently modified their holdings of the business. Pinnacle Bancorp Inc. grew its position in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares during the period. USA Financial Formulas raised its holdings in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares during the last quarter. Silver Oak Securities Incorporated acquired a new position in Analog Devices during the third quarter worth $29,000. Cetera Trust Company N.A purchased a new stake in Analog Devices during the fourth quarter worth $29,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Analog Devices during the 4th quarter worth $29,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

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.