Short Interest in Analog Devices, Inc. (NASDAQ:ADI) Declines By 9.9%

Analog Devices, Inc. (NASDAQ:ADI – Get Rating) was the recipient of a significant drop in short interest during the month of December. As of December 30th, there was short interest totalling 6,250,000 shares, a drop of 9.9% from the December 15th total of 6,940,000 shares. Based on an average daily trading volume, of 3,620,000 shares, the short-interest ratio is presently 1.7 days.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $165.17 on Friday. The company has a market capitalization of $84.12 billion, a PE ratio of 31.28, a P/E/G ratio of 1.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.45 and a current ratio of 2.02. The company has a 50-day simple moving average of $166.11 and a two-hundred day simple moving average of $158.33. Analog Devices has a one year low of $133.48 and a one year high of $180.01.

Analog Devices (NASDAQ:ADI – Get Rating) last issued its quarterly earnings results on Tuesday, November 22nd. The semiconductor company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.15. Analog Devices had a return on equity of 13.58% and a net margin of 22.88%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The company’s revenue was up 38.8% on a year-over-year basis. Research analysts expect that Analog Devices will post 9.72 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Monday, December 5th were given a $0.76 dividend. The ex-dividend date was Friday, December 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 1.84%. Analog Devices’s dividend payout ratio is currently 57.58%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group dropped their price objective on shares of Analog Devices from $210.00 to $195.00 in a research note on Wednesday, November 23rd. StockNews.com initiated coverage on shares of Analog Devices in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Cowen boosted their target price on shares of Analog Devices from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, December 9th. Credit Suisse Group reissued a “neutral” rating and set a $185.00 target price on shares of Analog Devices in a research note on Wednesday, November 16th. Finally, BMO Capital Markets boosted their target price on shares of Analog Devices from $190.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, November 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.41.

Insider Activity

In related news, EVP Vivek Jain sold 10,791 shares of the firm’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $175.73, for a total value of $1,896,302.43. Following the completion of the transaction, the executive vice president now directly owns 7,516 shares of the company’s stock, valued at $1,320,786.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Analog Devices news, Director James Champy sold 5,547 shares of Analog Devices stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $170.00, for a total transaction of $942,990.00. Following the completion of the transaction, the director now directly owns 7,089 shares of the company’s stock, valued at $1,205,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 10,791 shares of Analog Devices stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $175.73, for a total transaction of $1,896,302.43. Following the transaction, the executive vice president now directly owns 7,516 shares of the company’s stock, valued at $1,320,786.68. The disclosure for this sale can be found here. Insiders have sold a total of 30,887 shares of company stock worth $5,349,127 over the last quarter. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Analog Devices

A number of large investors have recently bought and sold shares of the company. My Personal CFO LLC purchased a new stake in Analog Devices in the 4th quarter worth approximately $29,000. Coston McIsaac & Partners purchased a new stake in Analog Devices in the 2nd quarter worth approximately $27,000. Worth Asset Management LLC purchased a new stake in Analog Devices in the 1st quarter worth approximately $33,000. Selective Wealth Management Inc. boosted its position in Analog Devices by 1,116.7% in the 2nd quarter. Selective Wealth Management Inc. now owns 219 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 201 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Analog Devices by 50.6% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 232 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analog Devices Company Profile

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.