Short Interest in Analog Devices, Inc. (NASDAQ:ADI) Grows By 27.4%

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 9,570,000 shares, a growth of 27.4% from the December 31st total of 7,510,000 shares. Based on an average daily trading volume, of 2,950,000 shares, the short-interest ratio is presently 3.2 days.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was 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 in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,000 shares of company stock worth $11,029,300. Corporate insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices in the third quarter valued at $28,000. Archer Investment Corp lifted its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 73 shares in the last quarter. Financial Life Planners acquired a new stake in Analog Devices during the 4th quarter worth about $33,000. Peterson Financial Group Inc. purchased a new position in Analog Devices during the 3rd quarter valued at about $43,000. Finally, Reston Wealth Management LLC purchased a new position in Analog Devices during the third quarter valued at approximately $48,000. Institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

ADI stock traded up $1.26 during trading on Thursday, hitting $211.17. The company had a trading volume of 741,111 shares, compared to its average volume of 3,178,764. The firm has a market capitalization of $104.77 billion, a price-to-earnings ratio of 64.20, a P/E/G ratio of 2.57 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $216.50 and a 200 day moving average of $221.67. Analog Devices has a fifty-two week low of $182.57 and a fifty-two week high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the business earned $2.01 earnings per share. The business's revenue for the quarter was down 10.1% on a year-over-year basis. As a group, research analysts predict that Analog Devices will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.74%. The ex-dividend date was Monday, December 9th. Analog Devices's dividend payout ratio is presently 111.85%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ADI. Barclays decreased their price objective on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Truist Financial increased their target price 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, TD Cowen reduced their target price on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and a consensus price target of $248.70.

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.