Short Interest in Analog Devices, Inc. (NASDAQ:ADI) Expands By 17.0%

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 daily trading volume, of 2,850,000 shares, the short-interest ratio is currently 2.6 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Oppenheimer restated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Wells Fargo & Company started coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Price Performance

ADI stock opened at $216.61 on Friday. Analog Devices has a 1 year low of $181.80 and a 1 year high of $244.14. The firm has a market capitalization of $107.50 billion, a PE ratio of 65.84, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The business has a 50 day simple moving average of $222.16 and a 200-day simple moving average of $225.48.

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

Analog Devices Dividend Announcement

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

Insider Activity

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the transaction, the chief executive officer now directly owns 45,326 shares in the company, valued at $10,376,481.18. This represents a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,000 shares of company stock worth $24,754,600. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC increased its stake in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the period. TCW Group Inc. acquired a new position in shares of Analog Devices in the 2nd quarter valued at $3,183,000. Raymond James & Associates grew its holdings in shares of Analog Devices by 8.8% during the second quarter. Raymond James & Associates now owns 926,050 shares of the semiconductor company’s stock worth $211,380,000 after buying an additional 74,786 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Analog Devices by 9.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 41,957 shares of the semiconductor company’s stock valued at $9,577,000 after buying an additional 3,544 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Analog Devices by 1.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 182,045 shares of the semiconductor company’s stock worth $41,554,000 after buying an additional 2,084 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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.