Analog Devices (ADI) Hits New 12-Month High at $112.68
Analog Devices, Inc. (NASDAQ:ADI) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $112.68 and last traded at $112.16, with a volume of 56947 shares traded. The stock had previously closed at $112.07.
ADI has been the subject of several research reports. Evercore ISI decreased their target price on Analog Devices from $105.00 to $96.00 in a research report on Monday, January 14th. SunTrust Banks increased their target price on Analog Devices to $126.00 and gave the stock an “average” rating in a research report on Thursday, February 21st. ValuEngine raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, January 25th. BidaskClub upgraded Analog Devices from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Finally, Bank of America upgraded Analog Devices from a “neutral” rating to a “buy” rating and upped their price target for the stock from $96.00 to $125.00 in a research note on Monday, February 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Analog Devices currently has a consensus rating of “Buy” and an average price target of $102.86.
The company has a debt-to-equity ratio of 0.54, a current ratio of 2.34 and a quick ratio of 1.64. The company has a market cap of $41.28 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, March 1st were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.93%. This is an increase from Analog Devices’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 28th. Analog Devices’s dividend payout ratio (DPR) is currently 36.36%.
In other Analog Devices news, SVP Margaret K. Seif sold 2,700 shares of the stock in a transaction on Friday, January 11th. The stock was sold at an average price of $90.00, for a total transaction of $243,000.00. Following the sale, the senior vice president now directly owns 24,517 shares in the company, valued at approximately $2,206,530. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 12,939 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $104.91, for a total value of $1,357,430.49. Following the sale, the chief executive officer now owns 29,395 shares in the company, valued at $3,083,829.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,270 shares of company stock worth $10,975,094. Company insiders own 0.50% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of ADI. Oregon Public Employees Retirement Fund boosted its stake in shares of Analog Devices by 8,439.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,472,596 shares of the semiconductor company’s stock worth $40,000 after buying an additional 3,431,930 shares during the last quarter. Norges Bank purchased a new position in shares of Analog Devices in the 4th quarter worth $292,919,000. FMR LLC boosted its stake in shares of Analog Devices by 18.3% in the 4th quarter. FMR LLC now owns 7,775,405 shares of the semiconductor company’s stock worth $667,363,000 after buying an additional 1,200,683 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Analog Devices by 6.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,194,991 shares of the semiconductor company’s stock worth $1,561,676,000 after buying an additional 1,147,088 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Analog Devices by 3,063.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,079,103 shares of the semiconductor company’s stock worth $92,619,000 after buying an additional 1,044,995 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.
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Analog Devices Company Profile (NASDAQ:ADI)
Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.
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