Short Interest in Analog Devices, Inc. (NASDAQ:ADI) Rises By 27.4%

Analog Devices, Inc. (NASDAQ:ADI) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 9,570,000 shares, an increase of 27.4% from the December 31st total of 7,510,000 shares. Based on an average daily volume of 2,950,000 shares, the days-to-cover ratio is currently 3.2 days.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Morgan Stanley reduced their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Truist Financial increased their price objective on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $248.70.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Analog Devices

Large investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the third quarter valued at approximately $28,000. Archer Investment Corp raised its position in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the last quarter. Financial Life Planners purchased a new stake in Analog Devices in the 4th quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new stake in Analog Devices during the 3rd quarter valued at $43,000. Finally, Reston Wealth Management LLC purchased a new position in Analog Devices during the third quarter worth $48,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Trading Up 0.2 %

Shares of ADI opened at $209.91 on Thursday. The firm’s 50-day moving average is $216.52 and its two-hundred day moving average is $221.75. Analog Devices has a twelve month low of $182.57 and a twelve month high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $104.15 billion, a P/E ratio of 63.80, a PEG ratio of 2.57 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company’s revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.01 EPS. On average, research analysts predict that Analog Devices will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.75%. Analog Devices’s dividend payout ratio is presently 111.85%.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.