Analog Devices, Inc. (NASDAQ:ADI) Short Interest Update

Analog Devices, Inc. (NASDAQ:ADIGet Free Report) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 7,380,000 shares, an increase of 16.4% from the February 29th total of 6,340,000 shares. Based on an average daily volume of 3,320,000 shares, the days-to-cover ratio is presently 2.2 days.

Analog Devices Price Performance

Shares of ADI opened at $197.79 on Monday. The company has a market cap of $98.09 billion, a P/E ratio of 35.38, a PEG ratio of 4.96 and a beta of 1.17. The stock has a fifty day moving average price of $193.14 and a 200 day moving average price of $184.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices has a 12 month low of $154.99 and a 12 month high of $202.77.

Analog Devices (NASDAQ:ADIGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business posted $2.75 earnings per share. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. On average, research analysts forecast that Analog Devices will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.92 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.86%. Analog Devices’s dividend payout ratio is presently 65.83%.

Insider Transactions at Analog Devices

In other news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the sale, the chief executive officer now owns 5,713 shares in the company, valued at $1,097,524.43. The disclosure for this sale can be found here. Insiders have sold a total of 21,228 shares of company stock worth $4,134,502 in the last three months. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Nomura Holdings Inc. bought a new position in shares of Analog Devices in the fourth quarter worth $6,405,000. HighPoint Advisor Group LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at $2,654,000. PNC Financial Services Group Inc. lifted its holdings in shares of Analog Devices by 3.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 146,014 shares of the semiconductor company’s stock valued at $28,993,000 after buying an additional 5,514 shares during the period. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at $850,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Analog Devices in the fourth quarter valued at $5,565,000. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADI. Sanford C. Bernstein downgraded Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective on the stock. in a report on Thursday, January 4th. Barclays lifted their price objective on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a report on Thursday, January 18th. Cantor Fitzgerald restated a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Finally, Truist Financial decreased their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $206.26.

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Analog Devices Company Profile

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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.

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