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

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) was the target of a significant increase in short interest in 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 trading volume of 2,850,000 shares, the short-interest ratio is presently 2.6 days.

Insider Activity at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now directly owns 79,093 shares in the company, valued at $18,106,760.49. This trade represents a 27.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the sale, the chief executive officer now directly owns 45,326 shares in the company, valued at $10,376,481.18. The trade was a 18.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock worth $24,754,600 over the last quarter. Corporate insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Analog Devices

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices during the 3rd quarter valued at about $28,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices in the second quarter worth approximately $29,000. Archer Investment Corp raised its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after buying an additional 73 shares during the period. ORG Partners LLC lifted its stake in shares of 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 purchased a new position in Analog Devices during the 2nd quarter valued at $37,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of ADI stock traded down $1.11 during trading hours on Friday, reaching $216.61. 3,067,545 shares of the company traded hands, compared to its average volume of 3,225,052. The firm has a 50-day moving average price of $222.16 and a 200 day moving average price of $225.53. The company has a market cap of $107.50 billion, a P/E ratio of 65.84, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices has a 12-month low of $181.80 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly 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. 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 analyst estimates of $2.41 billion. During the same period in the prior year, the business posted $2.01 earnings per share. The company's revenue was down 10.1% on a year-over-year basis. As a group, sell-side analysts predict that Analog Devices will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is presently 111.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADI. Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 price target for the company. Morgan Stanley reduced their price objective 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. Cantor Fitzgerald reiterated a "neutral" rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Truist Financial reduced their price target on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a research report on Wednesday, November 27th. 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. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $249.33.

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.