Analog Devices (NASDAQ:ADI) Sets New 12-Month High – Time to Buy?

Shares of Analog Devices, Inc. (NASDAQ:ADI) reached a new 52-week high on Thursday . The company traded as high as $283.81 and last traded at $283.39, with a volume of 2798103 shares traded. The stock had previously closed at $281.57.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ADI shares. BNP Paribas began coverage on Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 target price for the company. Cfra reiterated a “buy” rating and issued a $280.00 price objective on shares of Analog Devices in a report on Tuesday, November 25th. BNP Paribas Exane initiated coverage on shares of Analog Devices in a report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $270.00 price target on shares of Analog Devices in a research report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $283.61.

Analog Devices Trading Up 0.6%

The stock has a fifty day simple moving average of $244.56 and a 200 day simple moving average of $239.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The firm has a market cap of $138.76 billion, a P/E ratio of 62.15, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the firm posted $1.67 earnings per share. Analog Devices’s revenue was up 25.9% compared to the same quarter last year. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be given a dividend of $0.99 per share. The ex-dividend date is Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. Analog Devices’s dividend payout ratio is 86.84%.

Insider Activity at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total value of $719,406.25. Following the completion of the sale, the director owned 142,571 shares of the company’s stock, valued at $32,821,269.91. The trade was a 2.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michael Sondel sold 8,169 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the transaction, the chief accounting officer directly owned 18,913 shares in the company, valued at approximately $5,258,381.39. This represents a 30.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 35,419 shares of company stock worth $8,791,598. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Analog Devices by 0.3% during the third quarter. Vanguard Group Inc. now owns 50,389,306 shares of the semiconductor company’s stock valued at $12,380,652,000 after buying an additional 162,075 shares during the last quarter. State Street Corp grew its position in shares of Analog Devices by 0.4% during the 3rd quarter. State Street Corp now owns 23,399,046 shares of the semiconductor company’s stock valued at $5,749,146,000 after acquiring an additional 81,790 shares during the period. Geode Capital Management LLC increased its stake in shares of Analog Devices by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after purchasing an additional 633,425 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Analog Devices by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock worth $2,304,098,000 after purchasing an additional 2,407,460 shares during the period. Finally, Norges Bank purchased a new position in Analog Devices during the second quarter valued at $1,803,377,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

About Analog Devices

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.