Analog Devices, Inc. (NASDAQ:ADI) Short Interest Up 23.1% in October

Analog Devices, Inc. (NASDAQ:ADI) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 5,750,000 shares, an increase of 23.1% from the September 30th total of 4,670,000 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average trading volume of 2,130,000 shares, the days-to-cover ratio is presently 2.7 days.

Several equities analysts have recently weighed in on the company. BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a research report on Saturday, August 31st. Morgan Stanley boosted their target price on Analog Devices from $97.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, August 22nd. Loop Capital boosted their target price on Analog Devices to $125.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Raymond James raised Analog Devices from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Wednesday, October 30th. Finally, Daiwa Capital Markets started coverage on Analog Devices in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $121.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. Analog Devices has a consensus rating of “Buy” and an average price target of $114.33.

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $108.96, for a total transaction of $1,089,600.00. Following the transaction, the chief executive officer now owns 31,206 shares of the company’s stock, valued at approximately $3,400,205.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Joseph Hassett sold 10,544 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $116.72, for a total value of $1,230,695.68. Following the transaction, the senior vice president now directly owns 34,360 shares in the company, valued at approximately $4,010,499.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,362 shares of company stock worth $5,780,793. Corporate insiders own 0.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC increased its position in Analog Devices by 3.4% during the 2nd quarter. Measured Wealth Private Client Group LLC now owns 2,507 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 83 shares in the last quarter. Nicolet Bankshares Inc. increased its position in Analog Devices by 4.1% during the 2nd quarter. Nicolet Bankshares Inc. now owns 2,169 shares of the semiconductor company’s stock valued at $245,000 after buying an additional 85 shares in the last quarter. Archford Capital Strategies LLC increased its position in Analog Devices by 4.3% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,215 shares of the semiconductor company’s stock valued at $250,000 after buying an additional 91 shares in the last quarter. Greenleaf Trust increased its position in Analog Devices by 2.3% during the 2nd quarter. Greenleaf Trust now owns 4,156 shares of the semiconductor company’s stock valued at $469,000 after buying an additional 95 shares in the last quarter. Finally, Alpha Cubed Investments LLC increased its position in Analog Devices by 2.3% during the 3rd quarter. Alpha Cubed Investments LLC now owns 4,500 shares of the semiconductor company’s stock valued at $503,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 87.58% of the company’s stock.

Shares of Analog Devices stock opened at $114.17 on Thursday. The stock’s fifty day moving average is $110.37 and its two-hundred day moving average is $110.34. The company has a market capitalization of $41.75 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.04 and a beta of 1.42. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.45. Analog Devices has a 52 week low of $80.08 and a 52 week high of $124.79.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.04. Analog Devices had a return on equity of 17.87% and a net margin of 24.71%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business earned $1.53 EPS. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. As a group, research analysts anticipate that Analog Devices will post 5.2 earnings per share for the current year.

Analog Devices Company Profile

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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