Analog Devices (ADI) Sets New 1-Year High at $110.65
Shares of Analog Devices, Inc. (NASDAQ:ADI) reached a new 52-week high during trading on Friday . The company traded as high as $110.65 and last traded at $109.96, with a volume of 80102 shares trading hands. The stock had previously closed at $108.25.
A number of analysts have commented on ADI shares. Zacks Investment Research downgraded shares of Analog Devices from a “hold” rating to a “sell” rating in a report on Monday, November 19th. SunTrust Banks increased their price objective on shares of Analog Devices to $126.00 and gave the company an “average” rating in a report on Thursday, February 21st. Bank of America downgraded shares of Analog Devices from a “buy” rating to a “neutral” rating in a report on Friday, January 4th. Morgan Stanley downgraded shares of Analog Devices from an “overweight” rating to an “equal weight” rating and set a $88.05 price objective for the company. in a report on Tuesday, December 18th. Finally, ValuEngine upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, January 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $103.05.
The firm has a market capitalization of $39.87 billion, a PE ratio of 18.42, a P/E/G ratio of 1.59 and a beta of 1.26. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.54.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, March 1st were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from Analog Devices’s previous quarterly dividend of $0.48. Analog Devices’s dividend payout ratio (DPR) is currently 36.36%.
In related news, Director Ray Stata sold 20,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $107.68, for a total transaction of $2,153,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Margaret K. Seif sold 2,700 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 24,517 shares of the company’s stock, valued at approximately $2,206,530. The disclosure for this sale can be found here. Insiders have sold a total of 90,079 shares of company stock valued at $9,457,895 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of ADI. Oregon Public Employees Retirement Fund boosted its position in shares of Analog Devices by 8,439.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,472,596 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 3,431,930 shares during the period. Norges Bank purchased a new position in shares of Analog Devices during the 4th quarter worth approximately $292,919,000. Capital International Investors boosted its position in shares of Analog Devices by 92.8% during the 3rd quarter. Capital International Investors now owns 6,039,400 shares of the semiconductor company’s stock worth $558,403,000 after purchasing an additional 2,906,159 shares during the period. FMR LLC boosted its position in Analog Devices by 18.3% in the 4th quarter. FMR LLC now owns 7,775,405 shares of the semiconductor company’s stock valued at $667,363,000 after buying an additional 1,200,683 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in 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 valued at $1,561,676,000 after buying an additional 1,147,088 shares during the period. 90.20% of the stock is owned by hedge funds and other institutional investors.
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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