Fintel reports that on August 24, 2023, Goldman Sachs maintained coverage of Analog Devices (NASDAQ:ADI) with a Buy recommendation.

Analyst Price Forecast Suggests 19.04% Upside

As of August 2, 2023, the average one-year price target for Analog Devices is 211.27. The forecasts range from a low of 176.75 to a high of $246.75. The average price target represents an increase of 19.04% from its latest reported closing price of 177.48.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Analog Devices is 12,304MM, a decrease of 4.15%. The projected annual non-GAAP EPS is 9.88.

Analog Devices Declares $0.86 Dividend

On May 24, 2023 the company declared a regular quarterly dividend of $0.86 per share ($3.44 annualized). Shareholders of record as of June 5, 2023 received the payment on June 14, 2023. Previously, the company paid $0.86 per share.

At the current share price of $177.48 / share, the stock’s dividend yield is 1.94%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.92%, the lowest has been 1.49%, and the highest has been 2.98%. The standard deviation of yields is 0.24 (n=236).

The current dividend yield is 0.07 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.46. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.39%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 2660 funds or institutions reporting positions in Analog Devices. This is an increase of 15 owner(s) or 0.57% in the last quarter. Average portfolio weight of all funds dedicated to ADI is 0.57%, a decrease of 2.38%. Total shares owned by institutions decreased in the last three months by 0.27% to 509,096K shares. The put/call ratio of ADI is 1.40, indicating a bearish outlook.

What are Other Shareholders Doing?

Jpmorgan Chase holds 19,864K shares representing 3.96% ownership of the company. In it’s prior filing, the firm reported owning 20,242K shares, representing a decrease of 1.91%. The firm increased its portfolio allocation in ADI by 588.59% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 15,660K shares representing 3.12% ownership of the company. In it’s prior filing, the firm reported owning 15,480K shares, representing an increase of 1.15%. The firm increased its portfolio allocation in ADI by 12.31% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 11,827K shares representing 2.36% ownership of the company. In it’s prior filing, the firm reported owning 11,890K shares, representing a decrease of 0.53%. The firm increased its portfolio allocation in ADI by 10.91% over the last quarter.

Massachusetts Financial Services holds 11,371K shares representing 2.27% ownership of the company. In it’s prior filing, the firm reported owning 9,295K shares, representing an increase of 18.26%. The firm decreased its portfolio allocation in ADI by 82.15% over the last quarter.

Geode Capital Management holds 9,594K shares representing 1.91% ownership of the company. In it’s prior filing, the firm reported owning 9,394K shares, representing an increase of 2.09%. The firm decreased its portfolio allocation in ADI by 8.75% over the last quarter.

Analog Devices Background Information
(This description is provided by the company.)

Analog Devices is a leading global high-performance analog technology company dedicated to solving the toughest engineering challenges. The company enables its customers to interpret the world around us by intelligently bridging the physical and digital with unmatched technologies that sense, measure, power, connect and interpret.

This article originally appeared on Fintel

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