Analog Devices (NASDAQ:ADI) Hits New 52-Week High – Here’s What Happened

Analog Devices, Inc. (NASDAQ:ADI) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $315.00 and last traded at $315.5770, with a volume of 44185 shares trading hands. The stock had previously closed at $303.83.

Analyst Ratings Changes

Several research firms have weighed in on ADI. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $270.00 price objective on shares of Analog Devices in a research report on Wednesday, November 26th. Susquehanna lifted their price target on Analog Devices from $350.00 to $360.00 and gave the company a “positive” rating in a research report on Thursday, January 22nd. Weiss Ratings cut Analog Devices from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price objective on shares of Analog Devices in a report on Tuesday, December 16th. Finally, Robert W. Baird boosted their target price on shares of Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, November 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $312.04.

Analog Devices Price Performance

The firm’s fifty day simple moving average is $278.92 and its 200-day simple moving average is $252.99. The firm has a market capitalization of $153.50 billion, a PE ratio of 68.76, a PEG ratio of 1.64 and a beta of 1.03. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24.

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

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio is presently 86.84%.

Insider Activity at Analog Devices

In related news, SVP Katsufumi Nakamura sold 500 shares of Analog Devices stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $301.46, for a total value of $150,730.00. Following the completion of the sale, the senior vice president directly owned 12,710 shares in the company, valued at approximately $3,831,556.60. This trade represents a 3.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $275.07, for a total transaction of $2,750,700.00. Following the transaction, the chief executive officer owned 155,688 shares in the company, valued at $42,825,098.16. This represents a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,544 shares of company stock valued at $14,328,561 over the last three months. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Analog Devices

Large investors have recently made changes to their positions in the company. Howard Hughes Medical Institute bought a new stake in Analog Devices during the second quarter valued at approximately $25,000. RMG Wealth Management LLC purchased a new position in shares of Analog Devices during the 2nd quarter worth $26,000. Albion Financial Group UT grew its position in shares of Analog Devices by 41.4% during the 4th quarter. Albion Financial Group UT now owns 123 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 36 shares during the period. Clayton Financial Group LLC bought a new stake in shares of Analog Devices during the 3rd quarter valued at $31,000. Finally, Barnes Dennig Private Wealth Management LLC increased its stake in shares of Analog Devices by 61.3% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 129 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 49 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Company Profile

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.