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

Analog Devices, Inc. (NASDAQ:ADI) was the recipient of a large 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 volume of 2,850,000 shares, the short-interest ratio is presently 2.6 days.

Analog Devices Price Performance

NASDAQ ADI 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 stock’s 50-day moving average price is $222.40 and its two-hundred day moving average price is $225.64. 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 company has a market cap of $107.50 billion, a PE ratio of 65.84, a PEG ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the company posted $2.01 earnings per share. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, analysts predict that Analog Devices will post 7.15 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 yield of 1.70%. The ex-dividend date is Monday, December 9th. Analog Devices’s payout ratio is presently 111.85%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial lowered their target price on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. TD Cowen decreased their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company began coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock worth $24,754,600 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ADI. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the third quarter valued at about $28,000. New Millennium Group LLC bought a new position in shares of Analog Devices during the second quarter valued at $29,000. Archer Investment Corp boosted its position in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC grew its position in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Analog Devices in the second quarter valued at about $37,000. 86.81% of the stock is owned by institutional investors.

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.