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

Analog Devices, Inc. (NASDAQ:ADI) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 9,570,000 shares, an increase of 27.4% from the December 15th total of 7,510,000 shares. Based on an average daily volume of 2,950,000 shares, the days-to-cover ratio is currently 3.2 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on ADI. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Morgan Stanley lowered their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Truist Financial upped their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.48.

Insider Buying and Selling

In other Analog Devices news, 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 transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $11,029,300 over the last three months. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ADI. ARS Investment Partners LLC increased its position in Analog Devices by 1.3% during the fourth quarter. ARS Investment Partners LLC now owns 19,551 shares of the semiconductor company’s stock worth $4,154,000 after buying an additional 245 shares during the last quarter. Royal Fund Management LLC increased its holdings in shares of Analog Devices by 13.6% during the 4th quarter. Royal Fund Management LLC now owns 6,900 shares of the semiconductor company’s stock worth $1,480,000 after acquiring an additional 828 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its stake in Analog Devices by 4.8% in the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,333 shares of the semiconductor company’s stock valued at $283,000 after acquiring an additional 61 shares during the period. UMB Bank n.a. lifted its holdings in Analog Devices by 3.2% during the 4th quarter. UMB Bank n.a. now owns 11,579 shares of the semiconductor company’s stock valued at $2,460,000 after purchasing an additional 363 shares during the last quarter. Finally, Trueblood Wealth Management LLC boosted its position in Analog Devices by 2.2% during the fourth quarter. Trueblood Wealth Management LLC now owns 9,019 shares of the semiconductor company’s stock worth $1,916,000 after purchasing an additional 197 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of ADI opened at $215.02 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices has a 12 month low of $182.57 and a 12 month high of $244.14. The firm has a fifty day simple moving average of $216.03 and a 200 day simple moving average of $222.66. The stock has a market capitalization of $106.71 billion, a price-to-earnings ratio of 65.36, a PEG ratio of 2.43 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping 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 company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the business posted $2.01 EPS. The company’s quarterly revenue was down 10.1% on a year-over-year basis. Research analysts forecast that Analog Devices will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

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.