Analog Devices, Inc. (NASDAQ:ADI) Sees Significant Growth in Short Interest

Analog Devices, Inc. (NASDAQ:ADI) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 7,360,000 shares, an increase of 17.0% from the November 15th total of 6,290,000 shares. Based on an average trading volume of 2,850,000 shares, the short-interest ratio is presently 2.6 days.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the sale, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. This represents a 18.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,000 shares of company stock valued at $24,754,600. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADI. State Street Corp raised its holdings in shares of Analog Devices by 0.5% in the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock worth $5,195,302,000 after purchasing an additional 106,664 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Analog Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after buying an additional 135,838 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares in the last quarter. FMR LLC boosted its stake in shares of Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after acquiring an additional 665,149 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Analog Devices by 17.3% during the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after acquiring an additional 700,862 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Down 0.5 %

Analog Devices stock opened at $216.61 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices has a one year low of $181.80 and a one year high of $244.14. The company has a 50-day simple moving average of $222.16 and a 200-day simple moving average of $225.46. The firm has a market capitalization of $107.50 billion, a P/E ratio of 65.84, a P/E/G ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 EPS. As a group, equities analysts expect that Analog Devices will post 7.15 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be issued a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.70%. Analog Devices’s payout ratio is 111.85%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ADI shares. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Truist Financial reduced their target price on Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. TD Cowen dropped their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley decreased their price objective 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. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

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.