Analog Devices, Inc. (NASDAQ:ADI) Short Interest Up 16.2% in September

Analog Devices, Inc. (NASDAQ:ADI) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 9,620,000 shares, an increase of 16.2% from the September 15th total of 8,280,000 shares. Based on an average daily trading volume, of 3,310,000 shares, the short-interest ratio is currently 2.9 days.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,495 shares of company stock worth $20,794,658. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

Large investors have recently bought and sold shares of the stock. Swedbank AB acquired a new position in shares of Analog Devices during the 1st quarter worth about $537,171,000. Vanguard Group Inc. boosted its position in shares of Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Analog Devices by 17,535,360.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after purchasing an additional 1,753,536 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Finally, M&G Plc acquired a new stake in shares of Analog Devices in the 1st quarter valued at about $181,232,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $236.43 on Tuesday. Analog Devices has a 52 week low of $154.99 and a 52 week high of $244.14. The business’s fifty day simple moving average is $224.40 and its 200-day simple moving average is $220.34. The firm has a market cap of $117.32 billion, a PE ratio of 55.24, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results 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 analyst estimates of $2.27 billion. During the same quarter in the prior year, the company posted $2.49 EPS. The company’s quarterly revenue was down 24.8% on a year-over-year basis. Equities analysts forecast that Analog Devices will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.56%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of research reports. Truist Financial downgraded Analog Devices from a “buy” rating to a “hold” rating and lowered their target price for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.