Analog Devices, Inc. (NASDAQ:ADI) Declares Dividend Increase - $0.99 Per Share

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) declared a quarterly dividend on Tuesday, February 18th, RTT News reports. Shareholders of record on Tuesday, March 4th will be given 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 1.66%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92.

Analog Devices has increased its dividend payment 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of Analog Devices stock traded down $4.91 during trading hours on Friday, reaching $238.91. The company's stock had a trading volume of 6,176,402 shares, compared to its average volume of 3,812,068. Analog Devices has a one year low of $182.57 and a one year high of $247.10. The company's 50 day simple moving average is $215.50 and its 200 day simple moving average is $220.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.93. The stock has a market cap of $118.52 billion, a P/E ratio of 76.09, a price-to-earnings-growth ratio of 2.76 and a beta of 1.04.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices's revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. As a group, analysts expect that Analog Devices will post 7.11 EPS for the current fiscal year.

Analog Devices announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

ADI has been the subject of several analyst reports. Barclays reduced their price target on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Oppenheimer restated an "outperform" rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research report on Thursday. UBS Group lifted their price target on Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a report on Thursday. Benchmark increased their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Morgan Stanley lifted their target price on Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $255.19.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company's stock, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate 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.