Analog Devices (NASDAQ:ADI) Hits New 12-Month High – Here’s Why

Analog Devices, Inc. (NASDAQ:ADI)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $321.23 and last traded at $314.7030, with a volume of 190628 shares traded. The stock had previously closed at $316.86.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADI shares. Oppenheimer raised their price objective on shares of Analog Devices from $265.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Robert W. Baird upped their price objective on Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 26th. Morgan Stanley reissued an “overweight” rating and set a $314.00 price target on shares of Analog Devices in a report on Friday, January 16th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $270.00 price objective on shares of Analog Devices in a report on Wednesday, November 26th. Finally, Bank of America upped their target price on shares of Analog Devices from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Analog Devices Stock Performance

The firm’s fifty day simple moving average is $288.06 and its 200 day simple moving average is $256.04. The company has a market capitalization of $159.63 billion, a price-to-earnings ratio of 71.30, a PEG ratio of 1.69 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company’s revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is currently 86.84%.

Insider Buying and Selling

In other news, SVP Martin Cotter sold 10,000 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $278.44, for a total transaction of $2,784,400.00. Following the transaction, the senior vice president owned 49,664 shares in the company, valued at approximately $13,828,444.16. This trade represents a 16.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $306.92, for a total value of $3,069,200.00. Following the transaction, the chief executive officer owned 155,688 shares in the company, valued at approximately $47,783,760.96. This trade represents a 6.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 50,419 shares of company stock worth $14,328,855. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several large investors have recently made changes to their positions in the business. Brighton Jones LLC grew its holdings in shares of Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after purchasing an additional 529 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Analog Devices by 36.0% in the second quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company’s stock worth $417,000 after purchasing an additional 464 shares during the period. Merit Financial Group LLC boosted its stake in Analog Devices by 58.3% during the second quarter. Merit Financial Group LLC now owns 14,769 shares of the semiconductor company’s stock worth $3,515,000 after buying an additional 5,438 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Analog Devices by 1.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 4,794 shares of the semiconductor company’s stock valued at $1,141,000 after buying an additional 59 shares during the period. Finally, Belpointe Asset Management LLC raised its stake in shares of Analog Devices by 67.4% in the 2nd quarter. Belpointe Asset Management LLC now owns 2,220 shares of the semiconductor company’s stock valued at $529,000 after buying an additional 894 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.