Analog Devices, Inc. (NASDAQ:ADI) Short Interest Down 21.3% in October

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 7,430,000 shares, a decrease of 21.3% from the October 15th total of 9,440,000 shares. Based on an average daily trading volume, of 2,840,000 shares, the short-interest ratio is presently 2.6 days.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Friday, November 1st. The stock was 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 in the company, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 500 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The trade was a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,495 shares of company stock valued at $25,229,958. Insiders own 0.31% of the company's stock.

Institutional Trading of Analog Devices

A number of hedge funds and other institutional investors have recently made changes to their positions in ADI. Point72 Italy S.r.l. raised its position in shares of Analog Devices by 894.3% in the third quarter. Point72 Italy S.r.l. now owns 55,710 shares of the semiconductor company's stock valued at $12,823,000 after purchasing an additional 50,107 shares during the period. IHT Wealth Management LLC raised its holdings in Analog Devices by 14.8% in the 3rd quarter. IHT Wealth Management LLC now owns 5,523 shares of the semiconductor company's stock valued at $1,266,000 after acquiring an additional 711 shares during the period. Integrated Wealth Concepts LLC lifted its position in Analog Devices by 3.0% during the third quarter. Integrated Wealth Concepts LLC now owns 4,030 shares of the semiconductor company's stock worth $927,000 after acquiring an additional 118 shares during the last quarter. Hilltop Holdings Inc. bought a new stake in shares of Analog Devices during the third quarter worth approximately $570,000. Finally, Holocene Advisors LP increased its stake in shares of Analog Devices by 336.4% during the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company's stock worth $245,953,000 after purchasing an additional 823,709 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Down 2.7 %

Shares of NASDAQ ADI traded down $5.73 during mid-day trading on Friday, hitting $206.51. The company's stock had a trading volume of 1,437,841 shares, compared to its average volume of 3,207,279. The company's fifty day simple moving average is $226.02 and its 200-day simple moving average is $224.94. 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 stock has a market cap of $102.53 billion, a price-to-earnings ratio of 63.09, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. Analog Devices has a one year low of $178.66 and a one year high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping 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 firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company posted $2.49 earnings per share. The company's revenue for the quarter was down 24.8% on a year-over-year basis. On average, sell-side analysts anticipate that Analog Devices will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced 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. This represents a $3.68 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. Analog Devices's dividend payout ratio (DPR) is presently 110.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ADI. Bank of America lowered their target price on Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, August 22nd. Barclays lifted their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an "equal weight" rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average 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.