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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Barclays reduced their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Morgan Stanley reduced their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Truist Financial raised their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Finally, TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen 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 $248.70.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $212.40 on Friday. Analog Devices has a twelve month low of $182.57 and a twelve month high of $244.14. The firm has a market cap of $105.37 billion, a P/E ratio of 64.56, a PEG ratio of 2.57 and a beta of 1.05. The company has a 50 day moving average of $216.50 and a 200 day moving average of $221.67. 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 announced its quarterly earnings data 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 company 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 business earned $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, research analysts expect that Analog Devices will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Analog Devices

A number of large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of Analog Devices by 4.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 29,502 shares of the semiconductor company’s stock valued at $6,733,000 after acquiring an additional 1,317 shares during the period. Quarry LP bought a new stake in shares of Analog Devices during the 2nd quarter valued at $92,000. EP Wealth Advisors LLC grew its position in shares of Analog Devices by 10.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 4,983 shares of the semiconductor company’s stock valued at $1,137,000 after acquiring an additional 457 shares during the period. 3Chopt Investment Partners LLC bought a new stake in shares of Analog Devices during the 2nd quarter valued at $414,000. Finally, New Century Financial Group LLC bought a new stake in shares of Analog Devices during the 2nd quarter valued at $208,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Company Profile

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.