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
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.
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
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.
- Get a free copy of the StockNews.com research report on Analog Devices (ADI)
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