Analog Devices, Inc. (NASDAQ:ADI) Short Interest Down 13.8% in February

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) was the target of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 7,030,000 shares, a decrease of 13.8% from the January 31st total of 8,160,000 shares. Based on an average daily trading volume, of 3,530,000 shares, the short-interest ratio is currently 2.0 days.

Analog Devices Price Performance

ADI traded down $7.11 during trading on Thursday, reaching $222.36. The company's stock had a trading volume of 2,037,365 shares, compared to its average volume of 3,864,150. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $218.21 and a two-hundred day simple moving average of $221.22. The company has a market cap of $110.29 billion, a price-to-earnings ratio of 70.85, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices has a 1 year low of $182.57 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices will post 7.14 EPS for the current year.

Analog Devices declared that its board has approved a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.78%. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices's dividend payout ratio is presently 126.11%.

Analyst Ratings Changes

ADI has been the topic of a number of research reports. Truist Financial upped their price target on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 target price on shares of Analog Devices in a report on Friday, February 14th. UBS Group increased their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Morgan Stanley upped their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Finally, TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $255.41.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently made changes to their positions in ADI. Norges Bank purchased a new stake in Analog Devices in the 4th quarter valued at approximately $1,755,958,000. Raymond James Financial Inc. purchased a new position in Analog Devices in the fourth quarter worth $833,386,000. Proficio Capital Partners LLC lifted its holdings in Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after acquiring an additional 3,059,349 shares during the period. Franklin Resources Inc. boosted its position in shares of Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Analog Devices by 301.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after purchasing an additional 1,186,981 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

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.