Analog Devices, Inc. (NASDAQ:ADI) Short Interest Down 11.5% in September

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Analog Devices, Inc. (NASDAQ:ADI – Get Rating) was the target of a significant drop in short-term interest during the month of September. As of September 15, there was short interest totaling 7,650,000 shares, down 11.5% from the August 31 total of 8,640,000 shares. Based on an average daily trading volume of 3,240,000 shares, the day-to-cover ratio is currently 2.4 days.

Insider Activity at Analog Devices

Separately, SVP Vivek Jain sold 14,000 shares of Analog Devices in a trade dated Thursday, August 25. The stock was sold at an average price of $165.63, for a total value of $2,318,820.00. Following the completion of the transaction, the senior vice president now directly owns 18,271 shares of the company, valued at $3,026,225.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Separately, director Tunc Doluca sold 2,300 shares of Analog Devices in a trade dated Tuesday, July 19. The stock was sold at an average price of $160.00, for a total value of $368,000.00. Following the completion of the sale, the administrator now directly owns 85,357 shares of the company, valued at $13,657,120. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, SVP Vivek Jain sold 14,000 shares of Analog Devices in a trade dated Thursday, August 25. The stock was sold at an average price of $165.63, for a total value of $2,318,820.00. Following the completion of the sale, the senior vice president now owns 18,271 shares of the company, valued at $3,026,225.73. The disclosure of this sale can be found here. Insiders sold 51,700 shares of the company valued at $8,827,200 in the past ninety days. 0.91% of the shares are held by insiders.

Institutional trading of analog devices

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Coston McIsaac & Partners acquired a new stake in Analog Devices in Q2 worth approximately $27,000. Inscription Capital LLC acquired a new position in Analog Devices stock in Q2 worth approximately $281,000. Federated Hermes Inc. raised its position in Analog Devices shares by 8.9% in the second quarter. Federated Hermes Inc. now owns 271,821 shares of the semiconductor company valued at $39,710,000 after buying an additional 22,188 shares last quarter. B. Riley Wealth Management Inc. acquired a new position in Analog Devices stock in Q2 worth approximately $783,000. Finally, Raleigh Capital Management Inc. increased its position in Analog Devices shares by 12.0% in the second quarter. Raleigh Capital Management Inc. now owns 1,536 shares of the semiconductor company valued at $224,000 after buying 165 additional shares last quarter. Institutional investors and hedge funds hold 85.22% of the company’s shares.

Performance of analog device stocks

Shares of ADI opened at $139.34 on Friday. The company has a market capitalization of $71.67 billion, a PE ratio of 38.49, a growth price-earnings ratio of 1.25 and a beta of 1.16. The company has a debt ratio of 0.17, a current ratio of 1.92 and a quick ratio of 1.43. The company has a 50-day moving average of $159.50 and a 200-day moving average of $158.15. Analog Devices has a one-year low of $138.50 and a one-year high of $191.95.

Analog Devices (NASDAQ:ADI – Get Rating) last announced its results on Wednesday, August 17. The semiconductor company reported EPS of $2.52 for the quarter, beating the consensus estimate of $2.43 by $0.09. The company posted revenue of $3.11 billion in the quarter, versus a consensus estimate of $3.06 billion. Analog Devices had a net margin of 17.00% and a return on equity of 11.92%. Analog Devices revenue increased 76.8% compared to the same quarter last year. In the same quarter a year earlier, the company posted EPS of $1.72. As a group, stock analysts expect Analog Devices to post earnings per share of 9.42 for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8. Shareholders of record on Tuesday, August 30 received a dividend of $0.76. This represents an annualized dividend of $3.04 and a yield of 2.18%. The ex-dividend date was Monday, August 29. Analog Devices’ dividend payout ratio (DPR) is 83.98%.

Wall Street analysts predict growth

Several equity analysts have recently released reports on ADI shares. Oppenheimer rephrased an “outperform” rating and set a target price of $210.00 on Analog Devices stock in a Friday, August 12 research report. Bank of America lowered its target price on Analog Devices from $220.00 to $190.00 and set a “buy” rating for the company in a Wednesday, June 29 research note. Piper Sandler cut her price target on Analog Devices shares from $210.00 to $190.00 and set an “overweight” rating for the company in a Thursday, Aug. 18 report. Robert W. Baird restated an “outperform” rating and set a $220.00 price target on Analog Devices stock in a Friday, August 19 report. Finally, Truist Financial raised its price target on Analog Devices shares from $203.00 to $209.00 and gave the stock a “buy” rating in a Thursday, August 18, report. Six investment analysts gave the stock a hold rating and twelve gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $195.53.

About analog devices

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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 conversion products, which translate real-world analog signals into digital data, as well as digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing and power management applications in automotive, communications, industrial and high-end consumption; and power supply ICs include performance simulation, integration, and software design tools for accurate power supply designs.

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