Analog Devices, Inc. (NASDAQ:ADI) Short Interest Up 27.4% in January

Analog Devices, Inc. (NASDAQ:ADI) was the target of a large growth in short interest during the month of 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 currently 3.2 days.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP acquired a new position in Analog Devices in the third quarter valued at approximately $28,000. Archer Investment Corp raised its position in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners purchased a new stake in Analog Devices in the fourth quarter valued at approximately $33,000. Kestra Investment Management LLC purchased a new stake in Analog Devices in the fourth quarter valued at approximately $41,000. Finally, Peterson Financial Group Inc. purchased a new stake in Analog Devices in the third quarter valued at approximately $43,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Down 0.2 %

Shares of Analog Devices stock opened at $211.89 on Friday. The stock has a market cap of $105.12 billion, a P/E ratio of 64.40, a P/E/G ratio of 2.41 and a beta of 1.05. The stock’s 50 day simple moving average is $216.48 and its 200-day simple moving average is $221.61. Analog Devices has a 1-year low of $182.57 and a 1-year high of $244.14. 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 (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the firm posted $2.01 EPS. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. Analysts predict that Analog Devices will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays cut their price target 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 restated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. TD Cowen cut their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Truist Financial lifted their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Finally, Piper Sandler cut their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.