Analog Devices (NASDAQ:ADI) Reaches New 1-Year High – Here’s Why

Analog Devices, Inc. (NASDAQ:ADI) hit a new 52-week high during trading on Wednesday . The company traded as high as $333.76 and last traded at $329.3450, with a volume of 282939 shares trading hands. The stock had previously closed at $325.16.

Analysts Set New Price Targets

ADI has been the topic of several recent research reports. Susquehanna upped their price objective on shares of Analog Devices from $350.00 to $360.00 and gave the company a “positive” rating in a report on Thursday, January 22nd. Bank of America raised their price target on Analog Devices from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Stifel Nicolaus lifted their price objective on Analog Devices from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Sanford C. Bernstein reiterated a “market perform” rating and set a $270.00 price target on shares of Analog Devices in a research report on Wednesday, November 26th. Finally, Benchmark reiterated a “buy” rating and set a $285.00 target price on shares of Analog Devices in a report on Wednesday, November 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average target price of $314.22.

Analog Devices Stock Up 2.8%

The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average price is $292.61 and its 200 day moving average price is $258.77. The firm has a market capitalization of $163.26 billion, a price-to-earnings ratio of 73.10, a P/E/G ratio of 1.75 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 EPS. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

Insider Activity

In other Analog Devices news, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the sale, the chief accounting officer owned 18,913 shares in the company, valued at approximately $5,258,381.39. The trade was a 30.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Martin Cotter sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $278.44, for a total value of $2,784,400.00. Following the completion of the transaction, the senior vice president directly owned 49,664 shares in the company, valued at approximately $13,828,444.16. The trade was a 16.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 53,544 shares of company stock worth $15,320,417 over the last three months. Company insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC raised its position 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 valued at $397,000 after acquiring an additional 529 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Analog Devices by 36.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company’s stock valued at $417,000 after buying an additional 464 shares during the period. CWM LLC raised its position in Analog Devices by 30.7% during the second quarter. CWM LLC now owns 30,412 shares of the semiconductor company’s stock valued at $7,239,000 after purchasing an additional 7,137 shares in the last quarter. Cypress Capital Group bought a new position in shares of Analog Devices in the second quarter valued at approximately $412,000. Finally, MGO One Seven LLC grew its stake in shares of Analog Devices by 25.9% during the second quarter. MGO One Seven LLC now owns 4,136 shares of the semiconductor company’s stock valued at $985,000 after buying an additional 852 shares during 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.