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

Analog Devices, Inc. (NASDAQ:ADI) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 7,360,000 shares, a growth 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 currently 2.6 days.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock worth $24,754,600 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Analog Devices

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices during the third quarter worth about $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices in the second quarter valued at approximately $29,000. Archer Investment Corp raised its stake 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 valued at $33,000 after acquiring an additional 73 shares in the last quarter. ORG Partners LLC grew its position in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices during the second quarter worth $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial lowered their target price on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. 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 objective for the company. Piper Sandler reduced their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Stock Down 0.5 %

Shares of ADI stock opened at $216.61 on Friday. The stock has a market cap of $107.50 billion, a P/E ratio of 65.84, a PEG ratio of 2.47 and a beta of 1.05. Analog Devices has a 52 week low of $181.80 and a 52 week high of $244.14. The company’s fifty day simple moving average is $222.40 and its two-hundred day simple moving average is $225.64. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (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 firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the firm earned $2.01 earnings per share. The business’s revenue was down 10.1% on a year-over-year basis. Analysts predict that Analog Devices will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business 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 $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) 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.