Analog Devices, Inc. (NASDAQ:ADI – Get Free Report) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 9,570,000 shares, a growth of 27.4% from the December 15th total of 7,510,000 shares. Based on an average daily volume of 2,950,000 shares, the days-to-cover ratio is currently 3.2 days.
Analog Devices Trading Down 1.5 %
NASDAQ ADI opened at $215.02 on Friday. The firm has a market capitalization of $106.71 billion, a PE ratio of 65.36, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05. The business’s 50-day moving average price is $216.03 and its two-hundred day moving average price is $222.66. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices has a 12 month low of $182.57 and a 12 month high of $244.14.
Analog Devices (NASDAQ:ADI – Get Free Report) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 earnings per share. On average, analysts expect that Analog Devices will post 7.09 EPS for the current year.
Analog Devices Announces Dividend
Analysts Set New Price Targets
ADI has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley lowered their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Wells Fargo & Company initiated coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.48.
View Our Latest Stock Report on ADI
Insider Activity
In related news, CEO Vincent Roche sold 10,000 shares of the company’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 transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. 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 accessible through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is owned by insiders.
Hedge Funds Weigh In On Analog Devices
Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. boosted its position in shares of Analog Devices by 1.6% during the 2nd quarter. Federated Hermes Inc. now owns 32,016 shares of the semiconductor company’s stock valued at $7,308,000 after purchasing an additional 495 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in Analog Devices by 100.6% in the second quarter. Brown Brothers Harriman & Co. now owns 4,297 shares of the semiconductor company’s stock valued at $981,000 after buying an additional 2,155 shares during the period. Citizens Financial Group Inc. RI bought a new position in shares of Analog Devices during the 2nd quarter worth approximately $402,000. Edgestream Partners L.P. acquired a new stake in shares of Analog Devices during the 2nd quarter worth approximately $618,000. Finally, Sargent Investment Group LLC bought a new stake in shares of Analog Devices in the 2nd quarter valued at $320,000. Institutional investors and hedge funds own 86.81% of the company’s stock.
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.
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