Analog Devices, Inc. (NASDAQ:ADI) declared a quarterly dividend on Wednesday, August 30th, RTT News reports. Shareholders of record on Friday, September 8th will be given a dividend of 0.45 per share by the semiconductor company on Tuesday, September 19th. This represents a $1.80 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 7th.
Analog Devices (NASDAQ ADI) opened at 83.84 on Friday. Analog Devices has a 1-year low of $59.54 and a 1-year high of $90.49. The firm has a market cap of $30.83 billion, a P/E ratio of 41.73 and a beta of 1.29. The firm has a 50-day moving average of $80.06 and a 200 day moving average of $80.17.
Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 30th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Analog Devices had a net margin of 14.77% and a return on equity of 19.06%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted $0.82 EPS. The company’s revenue was up 64.9% compared to the same quarter last year. On average, analysts predict that Analog Devices will post $4.62 EPS for the current year.
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A number of brokerages recently weighed in on ADI. B. Riley reiterated a “buy” rating and issued a $110.00 price target on shares of Analog Devices in a research report on Sunday, August 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $97.00 price target (up from $95.00) on shares of Analog Devices in a research report on Thursday, June 1st. Instinet downgraded shares of Analog Devices from a “neutral” rating to a “reduce” rating and cut their price target for the company from $82.00 to $72.00 in a research report on Friday, June 2nd. Drexel Hamilton reiterated a “buy” rating and issued a $105.00 price target on shares of Analog Devices in a research report on Wednesday, August 30th. Finally, Morgan Stanley restated an “overweight” rating and set a $96.00 target price (up from $93.00) on shares of Analog Devices in a report on Thursday, June 1st. Twelve equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $91.85.
In other Analog Devices news, Director Ray Stata sold 25,000 shares of Analog Devices stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $83.50, for a total value of $2,087,500.00. Following the transaction, the director now owns 234,481 shares in the company, valued at $19,579,163.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Champy sold 10,000 shares of Analog Devices stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $85.00, for a total value of $850,000.00. Following the completion of the transaction, the director now owns 20,185 shares in the company, valued at approximately $1,715,725. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,686 shares of company stock valued at $5,867,782. 1.10% of the stock is owned by insiders.
About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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