Analog Devices, Inc. (ADI) Short Interest Update

Analog Devices, Inc. (NASDAQ:ADI) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 8,205,946 shares, a decrease of 13.1% from the February 15th total of 9,446,111 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average trading volume of 3,271,811 shares, the days-to-cover ratio is currently 2.5 days.

Shares of NASDAQ:ADI opened at $109.39 on Friday. The company has a market capitalization of $39.87 billion, a P/E ratio of 18.42, a PEG ratio of 1.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.64 and a current ratio of 2.34. Analog Devices has a fifty-two week low of $76.62 and a fifty-two week high of $110.65.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 20th. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.51 billion. Analog Devices had a net margin of 25.42% and a return on equity of 19.99%. Analog Devices’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS. On average, analysts forecast that Analog Devices will post 5.47 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, March 1st were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from Analog Devices’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 28th. Analog Devices’s dividend payout ratio (DPR) is currently 36.36%.

In other Analog Devices news, SVP Martin Cotter sold 1,244 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.39, for a total transaction of $134,837.16. Following the sale, the senior vice president now owns 173 shares of the company’s stock, valued at approximately $18,751.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michael Sondel sold 3,010 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $108.64, for a total transaction of $327,006.40. Following the sale, the chief accounting officer now directly owns 5,556 shares in the company, valued at approximately $603,603.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,079 shares of company stock worth $9,457,895. Insiders own 0.50% of the company’s stock.

Several large investors have recently made changes to their positions in ADI. Oregon Public Employees Retirement Fund raised its position in shares of Analog Devices by 8,439.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,472,596 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 3,431,930 shares during the period. Norges Bank acquired a new stake in Analog Devices during the 4th quarter worth approximately $292,919,000. Capital International Investors raised its holdings in Analog Devices by 92.8% during the 3rd quarter. Capital International Investors now owns 6,039,400 shares of the semiconductor company’s stock worth $558,403,000 after buying an additional 2,906,159 shares during the period. FMR LLC raised its holdings in Analog Devices by 18.3% during the 4th quarter. FMR LLC now owns 7,775,405 shares of the semiconductor company’s stock worth $667,363,000 after buying an additional 1,200,683 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Analog Devices by 6.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,194,991 shares of the semiconductor company’s stock worth $1,561,676,000 after buying an additional 1,147,088 shares during the period. Institutional investors and hedge funds own 90.20% of the company’s stock.

Several research analysts have recently issued reports on ADI shares. Zacks Investment Research lowered shares of Analog Devices from a “hold” rating to a “sell” rating in a research note on Monday, November 19th. SunTrust Banks raised their target price on shares of Analog Devices to $126.00 and gave the company an “average” rating in a research note on Thursday, February 21st. Bank of America lowered shares of Analog Devices from a “buy” rating to a “neutral” rating in a research note on Friday, January 4th. Morgan Stanley lowered shares of Analog Devices from an “overweight” rating to an “equal weight” rating and set a $88.05 target price on the stock. in a research note on Tuesday, December 18th. Finally, ValuEngine raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Analog Devices presently has a consensus rating of “Buy” and a consensus target price of $103.05.

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About Analog Devices

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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