Analog Devices, Inc. (NASDAQ:ADI) Short Interest Update

Analog Devices, Inc. (NASDAQ:ADI) was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totalling 8,480,000 shares, an increase of 8.9% from the July 31st total of 7,790,000 shares. Based on an average daily volume of 3,410,000 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ADI shares. Sanford C. Bernstein boosted their price target on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. TD Cowen raised their price objective on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Robert W. Baird boosted their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,107 shares of company stock valued at $9,014,710. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Analog Devices

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in Analog Devices by 3.9% in the fourth quarter. International Assets Investment Management LLC now owns 4,710 shares of the semiconductor company’s stock worth $935,000 after acquiring an additional 176 shares during the period. 9258 Wealth Management LLC lifted its position in shares of Analog Devices by 3.9% in the 4th quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock worth $444,000 after purchasing an additional 85 shares during the period. Sapient Capital LLC bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $339,000. Ifrah Financial Services Inc. purchased a new stake in Analog Devices in the fourth quarter worth $201,000. Finally, Vestmark Advisory Solutions Inc. raised its holdings in Analog Devices by 5.6% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 3,173 shares of the semiconductor company’s stock worth $630,000 after purchasing an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 1.7 %

ADI opened at $234.84 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm has a market capitalization of $116.60 billion, a P/E ratio of 54.87, a PEG ratio of 3.91 and a beta of 1.08. The company’s 50-day moving average is $226.19 and its 200 day moving average is $213.32. Analog Devices has a fifty-two week low of $154.99 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the business earned $2.49 earnings per share. Analog Devices’s revenue for the quarter was down 24.8% on a year-over-year basis. Research analysts expect that Analog Devices will post 6.33 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 85.98%.

Analog Devices Company Profile

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.