Analog Devices, Inc. (NASDAQ:ADI) Sees Significant Increase in Short Interest

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 9,570,000 shares, a growth 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 short-interest ratio is presently 3.2 days.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $11,029,300 in the last ninety days. Insiders own 0.31% of the company's stock.

Institutional Trading of Analog Devices

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock worth $623,399,000 after buying an additional 39,186 shares during the period. Swiss National Bank lifted its holdings in shares of Analog Devices by 0.3% during the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company's stock worth $339,012,000 after purchasing an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd grew its stake in shares of Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock worth $5,264,000 after purchasing an additional 7,386 shares during the last quarter. Summit Global Investments acquired a new stake in Analog Devices in the third quarter valued at $867,000. Finally, Versor Investments LP bought a new position in Analog Devices during the 3rd quarter worth $952,000. 86.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ADI has been the topic of several recent research reports. Morgan Stanley lowered their price objective on Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 27th. Piper Sandler dropped their price objective on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company started coverage on shares of 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. Cantor Fitzgerald reiterated a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $249.48.

Analog Devices Price Performance

Shares of Analog Devices stock traded down $3.20 during midday trading on Thursday, hitting $215.02. 3,115,984 shares of the company traded hands, compared to its average volume of 3,020,998. The firm's fifty day moving average price is $216.03 and its 200-day moving average price is $222.66. The stock has a market cap 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 has a 12 month low of $182.57 and a 12 month high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company's revenue was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 earnings per share. As a group, sell-side analysts forecast that Analog Devices will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

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